The merger with Agrium looks value-neutral for PotashCorp shareholders.
Narrow-moat PotashCorp reported mixed second-quarter results as growth in the potash segment was offset by continued headwinds in the nitrogen and phosphates segment. As such, we maintain our fair value estimate of $20 per share. We trim our CAD fair value estimate to CAD 25 per share from CAD 27 based on a recent strengthening of the Canadian dollar versus the U.S. dollar. Our narrow-moat rating is unchanged. Additionally, we still expect the merger with Agrium to close in the second half of th...Potash Corp. of Saskatchewan isa fertilizer producer by capacity producing the three primary crop nutrients: potash, nitrogen and phosphate, which is used for agricultural, industrial and animal nutrition purposes. Co.'s potash operations include the mining and production of potash, which is used as fertilizer. Co.'s phosphate operations include the manufacture and sale of solid and liquid phosphate fertilizers, phosphate feed and industrial acid, which is used in food products and industrial processes. Co.'s nitrogen operations include production of nitrogen fertilizers and nitrogen feed and industrial products, including ammonia, urea, nitrogen solutions, ammonium nitrate and nitric acid.
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