Report
Jeffrey Stafford
EUR 101.80 For Business Accounts Only

Agrium-PotashCorp merger terms look attractive to Agrium shareholders.

Despite a weak overall agriculture market, Agrium's retail distribution business continued to shine this year. Highlighting its relative resilience to the ups and downs of the ag cycle, the retail arm posted EBITDA of $1.1 billion in 2016, a 6% year-over-year increase from 2015. This growth came amid depressed crop prices and plummeting fertilizer prices. We think worries expressed by some investors that the retail profits would collapse amid a weaker portion of the ag cycle are largely unfounde...
Underlying
Agrium Inc.

Agriumis a retailer of agricultural products and services in the U.S., Canada, Australia, Argentina, Brazil, Chile and Uruguay and a producer and wholesale marketer of nutrients for agricultural and industrial markets. Co. reported its business through two business units, Retail, which operates in North and South America and Australia, providing crop inputs and services directly to farmers; and Wholesale, which operates in North and South America and Europe, and produces, markets and distributes all major crop nutrients for agricultural and industrial customers both domestically and around the world.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Stafford

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