Canadian fertilizer giants Agrium and PotashCorp have picked the new brand under which they plan to do business once their proposed merger clears.
Calgary-based Agrium and Saskatoon-based PotashCorp announced Wednesday their new merged company, pending regulatory review and approvals, will be named Nutrien.
“The new organization will be the global leader in reliable, low-cost crop nutrient production, combined with the largest agricultural retail distribution network in the world,” the two companies reiterated in a release.
Nutrien, they said, “will play a critical role in ‘Feeding the Future,’ by helping growers to increase food production in a sustainable manner for a growing world.”
The two companies agreed in September to pursue a $47 billion “merger of equals” in the form of a stock swap. Nutrien’s head office would be in Saskatoon, though it would maintain corporate offices in Calgary.
Regulatory review and approval processes for the merger deal continue, the companies said Wednesday, adding they expect their deal to close in the third quarter of 2017. — AGCanada.com Network