SIOUX CITY, Iowa (AP) -- Terra Industries today rejected the latest unsolicited takeover offer from Deerfield, Ill.-based CF Industries.
The Iowa-based fertilizer company says CF Industries' $4.1 billion bid is still too low.
Terra says its board of directors unanimously rejected the latest offer, saying it isn't in the best interests of shareholders.
CF Industries has pursued Terra since January. It raised its offer by adding cash to the bid earlier this week. Meanwhile, CF Industries has been resisting offers by Canadian rival Agrium Inc., which has been trying to take over CF since February.
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