Yara buys Terra

Remember the never-ending CF-Terra-Agrium three-way fertilizer takeover saga? One of the protagonists has fallen to an unexpected outside bidder, Norway’s Yara. The rationale is interesting:

Energy-intensive fertilizer producers in North America have become increasingly attractive, Yara said, because of “structural changes” in American energy markets as a boom in unconventional gas output curbs natural gas prices in the United States.

Yes for now... the question is for how long that trend holds up.

Update: And CF swoops in to outbid Yara and claim the prize... going to show that it ain't over til it's over.