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CF Industries files paperwork for Terra battle

Posted on October 14, 2009 2:00 PM
Fertilizer supplier CF Industries Holdings Inc. is taking its hostile bid for smaller rival Terra Industries Inc. to the next level, filing on Wednesday a definitive proxy to run a slate of three nominees for Terra's board. Terra will hold its annual meeting on Nov. 20 and urges shareholders to reject a $3.9 billion takeover bid from CF Industries.

In its own proxy statement, Sioux City, Iowa-based Terra recommends the re-election of three Terra board members, chairman Henry Slack, Martha Hesse and Dennis McGlone. The three-year terms of those three members expire this year.

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