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A smokestack emits water vapor at Agrium Inc.'s Carseland Nitrogen Operations facility outside Calgary, Alberta, Canada, on Monday, Aug. 23, 2010.
A smokestack emits water vapor at Agrium Inc.'s Carseland Nitrogen Operations facility outside Calgary, Alberta, Canada, on Monday, Aug. 23, 2010.
(Dave Olecko/Bloomberg)

Jana challenges Agrium to a debate

Jana Partners is trying to keep the pressure on Agrium Inc., firing out another presentation detailing what it says is an attempt by the farm products seller to avoid debate on Jana’s proposal to split the company in two.

While Agrium has clearly chosen to lay low, betting it has an insurmountable level of support from happy shareholders, the New York hedge fund continues to try to generate a wave of shareholder dissatisfaction and demands for change at the Calgary-based company. In the latest bid, Jana accuses Agrium of trying to dodge questions on such criticisms such as Jana’s contention that the company doesn’t disclose enough about its retail arm’s operations (something Jana has not been alone in saying).