Agrium Inc. (NYSE: AGU TSX: AGU), a major Retail supplier of agricultural products and services in North and South America, reached an agreement with the U.S. Federal Trade Commission, thus coming one step closer to an acquisition of UAP Holding Corp.
The agreement involves permission to close the purchase within two weeks. As part of the deal, the company is required to sell seven of UAP's 370 farm retail centers.
Agrium is a leading global Wholesale producer and marketer of all three major agricultural nutrients and the premier supplier of specialty fertilizers in North America. Agrium’s strategy is to grow across the value chain through acquisition, incremental expansion of its existing operations and through the development, commercialization and marketing of new products and international opportunities.
The retailer offered about $2.16 billion for UAP in December to add stores that sell farm products such as fertilizers, chemicals and seeds. The deal was delayed as Agrium sought approval under the Hart-Scott-Rodino Antitrust Improvements Act.