Source: CF Industries and Terra Industries

After announcing to its shareholders six weeks ago that CF Industries would no longer pursue its acquisition of Terra Industries, it has reversed its position and offered a new proposal to acquire the company. On Feb. 15, Terra entered into an agreement with Yara International ASA in which Yara agreed to acquire all of the outstanding common stock of Terra for $41.10 per share in cash. CF's newest offer has a total value of $47.40 per share.

The CF Proposal is subject to the termination of the Agreement and Plan of Merger, dated as of Feb. 12, 2010, by and among Yara International ASA, Yukon Merger Sub, Inc. and Terra. 

Terra's board of directors is reviewing the new proposal.

CF Industries' press release

Terra Industries' press release