DEERFIELD, Ill. -- CF Industries Holdings Inc. confirmed today that it has received another revised proposal from Agrium Inc. regarding an acquisition of CF Industries.

CF Industries' board of directors will evaluate the revised proposal carefully in the context of CF Industries' strategic plans to create shareholder value, including its proposed business combination with Terra Industries Inc. Since February 24, 2009, the day before Agrium made its initial offer, there has been an increase of 31.5% in the average stock price for the peer group(1).

Agrium's new proposal has a nominal value of $85.20 per share, which is an increase of 18.3% over the $72 per share nominal value of its initial offer. With its latest revision, Agrium has changed its initial offer by increasing the cash portion by a total of $8.30 per share, or 11.5% of the nominal value of that offer.

Morgan Stanley and Rothschild are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to CF Industries.

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.