Potash Corp. of Saskatchewan and Agrium have revealed that after their merger of equals is completed later this year, the combined company will be called Nutrien.
Potash Corp. of Saskatchewan’s New Brunswick facility. Credit: Potash Corp. of Saskatchewan
The all-stock merger, originally announced in September 2016, is expected to close in the third quarter. When it’s completed, Potash Corp. shareholders will hold 52% of the new entity, with Agrium shareholders holding 48%.
The new organization will be the global leader in reliable, low-cost crop nutrient production, and will possess the largest agricultural retail-distribution network in the world. With an enterprise value of US$36 billion and close to 20,000 employees, Nutrien will be the third-largest natural resource company in Canada.
The new company’s logo. Credit: Nutrien
The companies expect the merger to create operational synergies of US$500 million per year.
The new company will be headquartered in Saskatoon. Potash Corp. president and CEO Jochen Tilk will become executive chairman of Nutrien, while Agrium’s president and CEO Chuck Magro will be CEO of the combined company.
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