CF and Yara companies merger collapses

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Yara International CEO Torgeir Kvidal. Foto: Photo Erik Schrøder / NTB scanpix
11:04 CEST+02:00
Fertiliser companies CF Industries of the US and Norway's Yara International announced Friday their merger talks had collapsed.

The firms announced in September they were considering a potential "merger of equals".

At the time, each had a market capitalization of about $13 billion.

Yara surprised markets by firing its director general Joergen Ole Haslestad on October 7 while the talks were underway.

CF Industries chief Tony Will said in a statement Friday that although his company had identified operational and structural synergies, the two sides could not reach agreement on terms of a merger.

The new CEO of Yara, Torgeir Kvidal, also said it had proven impossible to reach agreement on terms acceptable to both sides.

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Any merger would have required the green light from the Norwegian government, which holds a  36.2 percent stake in Yara.

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