CF Industries to merge with OCI
CF Industries Holdings Inc. said today it has reached a deal to acquire the European and North American assets of Netherlands fertilizer maker OCI NV in an all-stock deal valued at $8 billion, MarketWatch reported. The deal includes $2 billion in net debt. Under the terms, CF shareholders would own 72.3 percent of the new company and OCI would own 27.7 percent. The deal will include OCI’s nitrogen production facilities in Geleen, Netherlands, and Wever, Iowa, as well as the company’s interest in an ammonia and methanol complex in Beaumont, Texas, among other assets. OCI shares were up 2 percent following the announcement. CF Industries is based in Deerfield, Ill., and has operations in Garner, Sergeant Bluff and Spencer.