Investor Suit Halts $8.1B Uralkali-Silvinit Deal

Law360, New York (February 28, 2011, 7:12 PM EST) -- A Russian court placed a temporary injunction Friday on a planned $8.1 billion merger of potash producers OAO Uralkali and OAO Silvinit after several investor groups filed suit seeking to block the deal.

JSC Acron and three other investor groups sued Uralkali and Silvinit on Thursday, asking the Arbitration Court of the Perm Territory outside Moscow to invalidate the shareholder votes that overwhelmingly approved the merger earlier this month, according to Uralkali.

The proposed deal would create the world’s second largest potash company and a major...
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