New York/Frankfurt | Reuters — German drugs and crop chemicals company Bayer has won over U.S. seeds firm Monsanto with an improved takeover offer of US$66 billion including debt, ending months of wrangling after increasing its bid for a third time. The $128 a share deal announced on Wednesday, up from Bayer’s previous offer of […] Read more
Bayer clinches Monsanto with raised US$66 billion bid
PotashCorp, Agrium make engagement official
The boards of two of the heaviest hitters in Canada’s fertilizer sector have formally agreed to a $47 billion “merger of equals” deal under a new, yet-to-be-named parent company. PotashCorp, the world’s biggest fertilizer company by capacity, and rival Agrium, which is also the world’s biggest crop input retail chain, announced an agreement Monday in […] Read more
Farmers’ debt seen hitting fresh record high
Reuters — Canadian farmers’ debt will likely reach another record high this year, while land appreciation slows and incomes flatten, but the industry is still in strong financial shape, the country’s biggest agriculture lender, Farm Credit Canada, forecast on Tuesday. FCC, the federal Crown ag lending agency, sounded a note of caution for farmers, who […] Read more
Diesel prices look to settle in for fall, early winter
CNS Canada — Canadian diesel prices appear to be settling in for a relatively uneventful autumn, according to an industry watcher. “Unless we get a vortex kind of winter, when a lot of diesel is used for heating purposes, I think it’s another cheap autumn-winter scenario shaping up,” said Tom Kloza of the Oil Price […] Read more
Fertilizer merger faces easier approval at home than in U.S.
Toronto/Washington | Reuters — Canada’s PotashCorp and Agrium are more likely to win approval for a potential merger in Canada than in the U.S., but U.S. rejection of the deal would scuttle it globally, competition lawyers said. Saskatoon-based PotashCorp and Calgary’s Agrium confirmed Tuesday they were in preliminary merger talks, toward a deal that would […] Read more
Austria expects ‘conflict’ on Canada trade deal
Vienna | Reuters — Austria is ready to confront other European Union members states over its opposition to a free trade deal with Canada, Chancellor Christian Kern said, because it sees it containing many of the same problems as one being negotiated with the U.S. Austria opposes a proposed free trade deal with the United […] Read more
German activists take EU-Canada trade deal to Constitutional Court
Berlin | Reuters — Activists delivered what they said was Germany’s biggest-ever public complaint to the Constitutional Court on Wednesday, hoping it will scupper a trade agreement between the European Union and Canada. The deal, which some see as a template for an EU-U.S. agreement still being negotiated, is the EU’s most ambitious trade pact […] Read more
PotashCorp, Agrium merger would send farmers to regulators
Winnipeg/Chicago | Reuters — North American farmers will pressure regulators to protect their negotiating leverage with fertilizer suppliers if PotashCorp and Agrium agree to merge, major farm groups said on Wednesday. The potential deal revealed on Tuesday would combine the world’s largest fertilizer producer by capacity, with the continent’s biggest network of farm retail dealers, […] Read more
Man-made warming dates back almost 200 years, study says
Oslo | Reuters — Man-made greenhouse gases began to nudge up the Earth’s temperatures almost 200 years ago, as the Industrial Revolution gathered pace, far earlier than previously thought. Greenhouse gas emissions from industry left their first traces in the temperatures of tropical oceans and the Arctic around 1830, researchers wrote in a recent journal […] Read more
U.S. Senate judiciary committee to hold hearing on ag chem deals
Washington | Reuters — The U.S. Senate judiciary committee will hold a hearing in late September to discuss the mergers of Dow Chemical and Dupont as well as ChemChina’s purchase of Syngenta, committee chair Charles Grassley said in a statement Tuesday. Grassley, a Republican from the farm state of Iowa, has already expressed concern that […] Read more
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