A Merger of Equals – Potash Corporation of Saskatchewan and Agrium Inc.
TORONTO , Dec. 27, 2017 /CNW/ - S&P Dow Jones Indices Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
Agrium Inc. (AGU.TO) and Potash Corporation of Saskatchewan Inc. (POT.TO) have announced the completion of a merger of equals to form a new company to be called Nutrien Ltd. (TSX:NTR). The S&P Dow Jones Indices treatment of this transaction for S&P/TSX indices will be as follows (all changes are effective prior to the open of trading on Tuesday, January 2, 2018 ):
- Potash Corporation of Saskatchewan Inc. will be deemed to be the company that goes forward as Nutrien Ltd.
- Agrium Inc. will be removed from all S&P/TSX indices where it is a constituent prior to the open of trading on January 2, 2018 .
- The outstanding shares of Potash Corporation will be consolidated on a 0.4-for-1 basis. Following this consolidation, the number of shares of Nutrien Ltd. will be increased to reflect the shares issued in exchange for Agrium Inc.
- Open Text Corporation (OTEX.TO) will be removed from the S&P/TSX Completion Index and added to the S&P/TSX 60, 60 Capped and 60 Equal Weight Indices to replace Agrium Inc.
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SOURCE S&P Dow Jones Indices LLC.
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