Source: Terra Industries

Terra Industries Inc. announced that its board of directors has unanimously determined that the proposal submitted by CF Industries Holdings, Inc. constitutes a superior proposal.

In accordance with the terms of the Yara agreement, Terra has provided notice to Yara of its intention to terminate the Yara agreement subject to Yara's right to propose, within five business days, changes to the terms of the Yara agreement that make it at least as favorable to Terra stockholders as the CF proposal.

Original press release

Statement from CF Industries

Statement from Yara