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A train car waits in line at a Potash Corp. mine site near Saskatoon in this file photo. (David Stobbe/Reuters)
A train car waits in line at a Potash Corp. mine site near Saskatoon in this file photo. (David Stobbe/Reuters)

CIBC, RBC hired at 11th hour for potash megadeal Add to ...

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Two Canadian banks were brought in at the eleventh hour to work on the blockbuster fertilizer merger of Potash Corp. of Saskatchewan Inc. and Agrium Inc.

Just weeks before the $36-billion (U.S.) deal was announced in early September, Canadian Imperial Bank of Commerce was contacted to work as a financial adviser to Agrium and Royal Bank of Canada was engaged to work for Potash Corp., according to the management information circular.

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Agrium, Potash Corp. to merge to create agricultural giant (BNN Video)

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