Referenced Stocks

Market Chatter: Agrium Investor Jana Chooses Board Nominees Ahead of Proxy Fight

By Midnight Trader,  November 19, 2012, 08:07:01 AM EDT

Jana Partners LLC, the activist hedge fund pressing Canada's Agrium Inc. ( AGU ) to spin off its farm retail network, raised its stake to more than 6% and chose 5 nominees in preparation for a fight to dislodge the current board, Bloomberg reports.

Bloomberg said the nominees include Jana Managing Partner Barry Rosenstein, David Bullock, a former chief financial officer of Graham Packaging Inc., and Stephen Clark, the former chief executive officer of German chemicals distributor Brenntag AG (BNR), the fund said today in a statement. The other two nominees are Mitchell Jacobson, chairman of MSC Industrial Direct Co., and Lyle Vanclief, a former Canadian minister of agriculture.

Jana, Agrium's largest shareholder, is reportedly proposing a tax-free separation of the Calgary-based company's network of farm-supply outlets from its wholesale fertilizer arm.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: AGU



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