CF/Terra offer expires midnight Friday - KTIV News 4 Sioux City IA: News, Weather and Sports

CF/Terra offer expires midnight Friday


SIOUX CITY, Iowa (KTIV) -- An important deadline tonight in the proposed merger of Terra Industries and CF Industries.

CF's exchange offer for the outstanding shares of Terra common stock expires at midnight.

Illinois-based CF Industries is buying the Sioux City based nitrogen producer in a cash and stock deal worth $4.7 billion.

Terra stockholders will receive a total of almost 55-dollars per share.

If CF gets 90-percent of Terra shareholders to agree to it, the deal could close as soon as next week.

With the stock exchange closed today because of the holiday, we should know more on Monday.

The Merger of Terra and CF creates the world's second largest Nitrogen fertilizer producer.

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