Saskatoon-based Potash Corp. of Saskatchewan and Agrium Inc. of Calgary have confirmed they are in merger talks — a combination could produce a fertilizer giant worth more than $30 billion. When trading resumed, Potash Corp. shares were up $2.37 to $23.27 on the TSX — a jump of 11.3 per cent. Potash Corp., which is the third-biggest seller of potash in the world, has a market capitalization of about $17.5 billion Cdn. Unlike Potash Corp, Agrium has a chain of retail stores in the U.S., so a merger could give Potash Corp direct access to American farmers. Earlier this year, Potash Corp. suspended production at its Picadilly mine operation near Sussex, N.B., resulting in the loss of more than 400 jobs.

Source: CBC News August 30, 2016 15:02 UTC