The sale of a large fertilizer plant in southeast Iowa will no longer go through after two fertilizer companies called off an $8 billion deal.
CF Industries and OCI N.V. announced Monday they are canceling their deal, which involved Illinois-based CF Industries purchasing the North American and European operations of Netherlands-based OCI.
The buy would have included CF Industries taking over ownership of OCI’s $2 billion fertilizer plant in Wever, which is currently under construction and operates as Iowa Fertilizer Co.
The two companies said “changes in the regulatory and commercial environments” caused them to terminate the deal, specifically mentioning new tax regulations issued by the U.S. Treasury Department.
Last month, the Treasury Department and Internal Revenue Service announced new rules intended to curb “inversions,” The New York Times reported. Corporate inversions are the practice of companies re-incorporating in a foreign country, such as through a merger, often to lower their tax bills. In the proposed CF-OCI deal, CF Industries would have become a subsidiary of a new company headquartered in the Netherlands.
Full Content: The Des Moines Register
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
College Sports Leaders in Intensive Talks to Settle NIL Antitrust Case Against NCAA
Apr 30, 2024 by
CPI
EU Investigates Facebook’s and Instagram’s Handling of Disinformation Ahead of Elections
Apr 30, 2024 by
CPI
Antitrust Lawsuit Targets Hotel Giants for Alleged Price Fixing with AI
Apr 30, 2024 by
CPI
ABA Seeks to Join FTC Lawsuit Against Amazon Over Antitrust Concerns
Apr 30, 2024 by
CPI
Google Agrees to Pay News Corp for AI-Related Content
Apr 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI