(EMAILWIRE.COM, March 13, 2010 ) Dallas, Tx - Terra Industries Inc. (NYSE:TRA) declined 1.22% to $46.33 on 30.99 million shares after Norway's Yara International ASA Friday said that it would not raise its offer for Terra Industries Inc. opening the door for CF Industries to merge with highly-prized Terra. Yara had agreed last month to buy Terra for $4.1 billion to create the world's biggest mineral fertiliser producer and boost its U.S. presence, as rivals join forces to gain size and reach.
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CF Industries Holdings, Inc. (NYSE:CF) decreased 3.86% to $96.73 on 13.78 million shares. CF Industries Holdings, Inc. and Terra Industries Inc. today announced they have entered into a definitive merger agreement (the "CF Industries-Terra Agreement") to combine the two companies. 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.
Citigroup Inc. (NYSE:C) lost 5.02% to $3.97 on 1.28 billion shares after the company`s Chief Executive Vikram Pandit said Thursday that the banking giant should be able to cover future credit losses in its troubled Local Consumer Lending businesses. There are "early signs of improvement" in the Local Consumer Lending, or LCL, businesses, he noted. LCL also has roughly $27 billion of loan loss provisions, Pandit added.
Bank of America Corporation (NYSE:BAC) fell 1.58% to $16.85 on 171.46 million shares.
Pfizer Inc. (NYSE:PFE) lost 1.21% to $17.08 on 85.45 million shares.
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