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Jana Partner Alleges Agrium Shareholder Vote Has Been Tainted, Calls For Probe

"Activist investor Jana Partners, which has been seeking changes at Agrium Inc. (AGU.TO) and representation on the board, says a shareholder vote at the company has been "tainted" and there should be an investigation," Canadian Press reported.

It said: "Jana lead partner Barry Rosenstein told the Agrium shareholder meeting in Calgary that it appeared on Friday that there were sufficient votes to elect two of Jana's nominees to the company's board. But Rosenstein said that by Sunday enough votes for him and David Bullock had been revoked to prevent them from winning seats on the board. He says there should be an investigation into what happened during the weekend when the pre-meeting proxy votes were counted."

"Jana remains Agrium's largest shareholder and will continue to take an active and vocal role, he said, before the meeting took a 45-minute break to count the votes. "We will not hesitate to speak up should Agrium go back to its old ways, and we're not going away," Rosenstein said."

AGU shares fell $2.73 to $96.60.

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

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