Terra Industries Inc. (TRA) Gains 11.50% After A Revised Buyout Offer By CF Industries (CF)

Terrra Industries (NYSE: TRA) got off to a head start on Tuesday, as CF Industries (NYSE: CF) came out with a fresh offer to acquire Terra Industries (TRA), by offering $37.50 per share of cash payment, and another one tenth of its share, in a cash and stock deal. The stock started with a wide gap up opening on Tuesday, and soared 11.55% in morning trading.

Terra Industries (TRA), which has already scaled to a new 52 week high, is now in a breakout zone. The stock has got chances to move up to a level of around $50, without facing any further roadblocks.