A Merger of Equals – Potash Corporation of Saskatchewan and Agrium Inc.
TORONTO, Dec. 27, 2017 /CNW/ - S&P Dow Jones Indices Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
Agrium Inc. (TSX:AGU) and Potash Corporation of Saskatchewan Inc. (TSX:POT) have announced the completion of a merger of equals to form a new company to be called Nutrien Ltd. (TSX:NTR). The S&P Dow Jones Indices treatment of this transaction for S&P/TSX indices will be as follows (all changes are effective prior to the open of trading on Tuesday, January 2, 2018):
- Potash Corporation of Saskatchewan Inc. will be deemed to be the company that goes forward as Nutrien Ltd.
- Agrium Inc. will be removed from all S&P/TSX indices where it is a constituent prior to the open of trading on January 2, 2018.
- The outstanding shares of Potash Corporation will be consolidated on a 0.4-for-1 basis. Following this consolidation, the number of shares of Nutrien Ltd. will be increased to reflect the shares issued in exchange for Agrium Inc.
- Open Text Corporation (TSX:OTEX) will be removed from the S&P/TSX Completion Index and added to the S&P/TSX 60, 60 Capped and 60 Equal Weight Indices to replace Agrium Inc.
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For further information: S&P Dow Jones Indices, [email protected]; Tony North, Director, Canadian Index Operations, Toronto, Ontario, (+1) 416 507 3204, [email protected]; David Blitzer, Managing Director and Chairman of the Index Committee, New York, USA, (+1) 212 438 3907, [email protected]