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Campaigns / JANA Partners → Agrium Inc.
JANA Partners vs. Agrium Inc.

Agrium Inc. · AGU

2 decks published between 2013-01-01 and 2013-02-19 — 36 pages, 36 analysed slides total.

proxy fight response

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2013-01-01 proxy fight

    2013 01 JANA Partners Agrium Presentation Jan 2013

    26pp · full_deck

    Agrium's board has no retail-distribution expertise to manage a business that's half its value; JANA's 5 nominees can unlock cost, capital and conglomerate-discount value worth hundreds of millions.

    N 4 V 3 C 3
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  2. 2013-02-19 response

    2013 02 Agrium Response to JANA Partners Feb 2013

    10pp · response_filing

    Agrium rebuts JANA's break-up case: the sum-of-parts math is contrived, Retail already trades at ~9x within Agrium, and no analyst endorses JANA's methodology.