Jana Blasts Agrium Over Plot To Sway Votes In Board Row

Law360, New York (April 1, 2013, 7:29 PM EDT) -- New York-based activist hedge fund Jana Partners LLC slammed the management of Canadian fertilizer company Agrium Inc. on Monday for paying investment advisers and brokers to persuade their clients to vote for Agrium board nominees, the latest spat in a fight over Jana's plan to appoint five new directors.

A private memorandum from Agrium to broker and investment advisers offered C$0.25 for each share of Agrium for which their clients voted in favor of management's 12 director nominees, according to Jana. The payouts are contingent on...
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