DEERFIELD, Ill. -- CF Industries Holdings, Inc. today announced that its board of directors has recommended that CF Industries' stockholders reject Agrium Inc.'s offer to acquire all outstanding shares of CF Industries. CF Industries today filed its Schedule 14D-9 with the U.S. Securities and Exchange Commission, which provides details with respect to the reasons for the Board's recommendation.

CF also said it was reaffirming its commitment pursue a business combination with Terra Industries, increasing to $30.50 the per share amount, which is a premium of more than 85 percent to Terra's stock price before CF made its original offer on Jan. 15, 2009.

CF Industries Holdings Inc., headquartered in Deerfield, Ill., is the holding company for the operations of CF Industries Inc. CF Industries Inc. is a major producer and distributor of nitrogen and phosphate fertilizer products.

SOURCE: CF Industries Holdings Inc. via Business Wire.