Canada's Agrium and Potash Corp of Saskatchewan to merge

Canada's Agrium and Potash Corp of Saskatchewan said on Monday they would combine to create a fertilizer and farm retailing giant with proforma enterprise value of $36 billion.

Potash shareholders will get 0.400 common shares of the new company for each share they own, while Agrium shareholders will get 2.230 common shares.

After the deal closes, Potash shareholders will own about 52 percent of the new company, while Agrium shareholders will own the rest.

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Canada's Agrium and Potash Corp of Saskatchewan to merge