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Yara International and CF Industries in Merger Talks

CF Industries Holdings, Inc. announced that the company and Yara International ASA have terminated their discussions regarding a potential merger of equals transaction.

"I want to thank the management team and Board of Directors of Yara International for their cooperation and professionalism throughout our discussions," stated Tony Will, president and chief executive officer, CF Industries Holdings, Inc. "Although we identified very significant operational and structural synergies, we were ultimately unable to agree on terms of a transaction that met the requirements of all our respective shareholders."

Will continued, "CF Industries has a strong stand-alone business plan and we are confident in the material increase in our cash flow generation as our capacity expansion projects come on-stream as scheduled. We remain fully committed to driving shareholder value creation by investing in high return projects while returning excess cash to stockholders through dividends and a substantial share repurchase program."