FTC requires divestitures of retail farm stores in Agrium´s proposed acquisition of UAP | Practical Law

FTC requires divestitures of retail farm stores in Agrium´s proposed acquisition of UAP | Practical Law

On 5 May 2008, the US Federal Trade Commission (FTC) announced that it has challenged Agrium, Inc.´s (Agrium) proposed US$2.65 billion acquisition of UAP Holding Corporation (UAP) after concluding that the proposed transaction would substantially lessen competition in the market for the retail sale of bulk fertilizer by farm stores, together with, in some cases, related farm-store services, in six geographic areas within the United States. The FTC also announced that it had entered into a consent agreement with the parties settling these charges, provided that Agrium and UAP divest seven farm stores in certain geographic markets to an approved acquirer within 180 days.

FTC requires divestitures of retail farm stores in Agrium´s proposed acquisition of UAP

Practical Law UK Legal Update 7-382-1016 (Approx. 3 pages)

FTC requires divestitures of retail farm stores in Agrium´s proposed acquisition of UAP

by Practical Law
Law stated as at 05 May 2008 • USA (National/Federal)
On 5 May 2008, the US Federal Trade Commission (FTC) announced that it has challenged Agrium, Inc.´s (Agrium) proposed US$2.65 billion acquisition of UAP Holding Corporation (UAP) after concluding that the proposed transaction would substantially lessen competition in the market for the retail sale of bulk fertilizer by farm stores, together with, in some cases, related farm-store services, in six geographic areas within the United States. The FTC also announced that it had entered into a consent agreement with the parties settling these charges, provided that Agrium and UAP divest seven farm stores in certain geographic markets to an approved acquirer within 180 days.