Agrium Inc. is working toward getting regulatory and other approvals for a merger with Potash Corp. of Saskatchewan Inc. The company expects this process to be completed by year end.
What caught our attention was insider buying after Nov. 7 when Agrium announced it received regulatory approval for the merger from China.
On Nov. 9, a senior vice-president bought 1,200 common shares at $136.01. On Nov. 29, board chairman Derek Pannell acquired 7,170 shares at an average price of $139.61.
Combined, the two spent $1.16-million picking up stock.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors