DEERFIELD, Ill. -- CF Industries Holdings Inc. announced today that it received a standard, unqualified, "no action" letter from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge CF Industries' acquisition of Terra Industries Inc. Accordingly, the "waiting period" applicable to the transaction under the Canadian Competition Act has been terminated.

As previously announced on March 12, 2010, CF Industries and Terra entered into a definitive merger agreement under which Terra stockholders will receive $37.15 in cash and 0.0953 of a share of CF Industries common stock for each share of Terra common stock.

CF Industries' exchange offer for the outstanding shares of Terra common stock will expire at 12:00 midnight, New York City time, on April 2, 2010 (the "Expiration Date"), unless extended. Under the terms of the merger agreement, following completion of CF Industries' exchange offer, a subsidiary of CF Industries will merge into Terra and any Terra stockholders who have not tendered their shares into CF Industries' exchange offer will receive in the merger the same consideration paid in the CF Industries exchange offer.

The New York Stock Exchange will be closed on the Expiration Date because of its observance of Good Friday as a holiday. As a result, brokers, dealers, commercial banks, trust companies and other nominees may also be closed for business or have limited staffing on the Expiration Date.

Stockholders who hold their shares of Terra common stock through a broker, dealer, commercial bank, trust company or other nominee may only tender shares by providing instructions to their nominees. Stockholders are urged to contact their nominees to determine any deadlines for tendering their shares, as nominees may have internal deadlines prior to the Expiration Date.

SOURCE: CF Industries.