STOCKHOLM (AP) — Norway's Yara International and Deerfield, Illinois-based CF Industries have abandoned merger talks that would have created a massive player in the fertilizer industry.
Both companies say discussions have been terminated because they couldn't agree on terms acceptable to all shareholders.
A merger would have created a combined company with a market capitalization of more than $26 billion and annual sales of about $20 billion.
Torger Kvidal, the CEO of Yara International ASA, said Friday that despite significant synergies, "in the end it became clear that we would not be able to agree on terms that would be acceptable to all stakeholders."
Yara has a broad, global presence, with facilities and warehouses in dozens of countries and sales to more than 150 countries. CF concentrates on nitrogen fertilizer manufacturing and distribution.