In the Matter of Agrium Inc. and UAP Holding Corporation
FTC Matter/File Number:
Part 2 Consents
The Commission charged that Agrium, Inc.’s $2.65 billion proposed acquisition of UAP Holding Corporation would reduce transaction would substantially lessen competition in the market for the retail sale of bulk fertilizer and, in some cases, related services by farm stores, in several local markets in Michigan and Maryland. According to the complaint filed by the Commission, the proposed acquisition would eliminate important competition between Agrium and UAP, allowing Agrium to unilaterally increase prices, and increasing the likelihood that the remaining competitors would engage in coordinated interaction to the detriment of fertilizer buyers. The Commission’s order requires the divestiture of seven farm stores, five UAP stores in Michigan, and two Agrium locations on the eastern shore of Maryland.