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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.

AGU edged up by 2% to $99.71 in early trade, with 52-week range of $97.81-$107.50.

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