Canada fertilizer companies Agrium and Potash Corp. confirmed the two are in preliminary merger talks. The Wall Street Journal reports the talks come as the industry contends with slumping earnings amid persistently low prices for crop nutrients. While no decision has been made, any potential deal would create a company with a total market value of more than $28 million. Those close to the talks say a deal could be struck next week. A merger would help Potash, the world's largest fertilizer producer by capacity, protect its earnings against volatile moves in crop nutrient prices by giving it access to Agrium's steady retail business. For Agrium, a deal would expand its product lines of potash and other fertilizer ingredients.
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