Terra Industries (TRA) Accepts $4.1 Billion Takeover Bid

Nitrogen products manufacturer Terra Industries Inc. (NYSE: TRA) accepted a $4.1 billion takeover bid from Norway's Yara International.

Yara International will pay $41.10 per share for Terra Industries Inc., which is nearly 24% above Friday's closing price of $33.25.

Terra Industries had resisted attempts at a takeover by CF Industries Holdings, Inc. (NYSE: CF).

At one point, CF Industries Holdings bid as high as $36.75 per share and 0.1034 CF shares. Although the bid was even higher than Yara International's bid, CF Industries Holdings eventually backed out of the bidding.