KTIV NewsChannel 4 Sioux City IA: News, Weather and SportsCF Industries will not extend financing for takeover of Terra
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SIOUX CITY, Iowa (KTIV) -- Terra Industries has apparently held off the ongoing takeover attempt by Illinois-based rival CF Industries
CF says it will not seek to extend financing for its proposed takeover of the Sioux City-based company after it expires on December 31.
A statement issued by CF Industries says its ability to obtain financing after that date will depend on credit markets and other factors at that time.
But CF did not rule out trying again in the future.
Terra's board of directors has rejected eight buyout offers by CF this year, saying each has undervalued Terra stock.
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