Friday an important deadline for CF/Terra merger - KTIV News 4 Sioux City IA: News, Weather and Sports

Friday an important deadline for CF/Terra merger

SIOUX CITY, Iowa (KTIV) -- Sioux City's only publicly traded company, Terra Industries was scheduled to have its stock taken off the S & P 500 after trading Friday.

Terra and its new owner Illinois-based CF Industries are tying up the loose ends of a buy-out reportedly worth $4.7 billion.

Though Monday marked the companies' first business day as a combined operation, Terra shareholders had until 5:00 Friday to approve the buyout.

The companies needed 90% of shareholders to agree, at last count they had 85%.

A CF spokesman says the company will likely make an announcement concerning that approval on Monday

The merger creates the world's second largest Nitrogen fertilizer producer.

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