Canadian fertilizer company Nutrien Ltd. has agreed to acquire all the shares of Australian agribusiness company Ruralco Holdings Ltd. for A$469 million ($335.1 million).
Under the pact, Ruralco will issue 105.1 million ordinary shares outstanding and 1.4 million outstanding performance rights, share rights and matched shares at a price of $3.14 per share.
Nutrien said the move will provide significant benefits for all stakeholders including delivering excellent value for both Ruralco and its shareholders.
The deal is subject to customary conditions precedent in transactions of this type, including Ruralco shareholder approval and regulatory approval from the Australian authorities.