Terra chooses CF Industries $4.1 billion buyout offer, ends previously announced Yara deal

Terra picks CF buyout bid over previous Yara deal

SIOUX CITY, Iowa — Fertilizer company Terra Industries says it will pursue a bid to be acquired by CF Industries instead of a previous agreement with Norway’s Yara.

Terra has notified Yara that their $4.1 buyout deal announced last month will not go forward.

Chemical maker CF Industries Holdings Inc., based in Deerfield, Ill., last week offered to buy Terra Industries Inc. in a cash and stock deal valued at $4.7 billion.

Yara has five business days to meet or beat CF’s offer, Terra says.

(This version CORRECTS value of CF deal in long hed.)