Market News & Headlines >> Yara, CF Industries in Merger Talks
Norway's Yara International and Chicago-based CF Industries are in talks about a possible merger that would create a $27.5 billion global fertilizer giant rivaling world No.1 Potash Corp.
The two firms said in separate filings that the discussions were at an early stage, with no assurances they would result in any transaction.
According to Reuters News Service, Yara said it had been forced to go public because information about the talks was at a risk of a leak. It wanted to conclude the process quickly but said nothing was expected in the coming days.
Yara shares surged nearly 10% in early Tuesday trade in Norway before closing 3.9% higher. CF shares traded as much as 7.6% higher, before ending up 5.3%.