ValueAct, Agrium In ‘Very Good Two-Way Dialogue’

We found out last week that activist hedge fund ValueAct Capital had built up a large position Agrium Inc. (NYSE:AGU) (TSE:AGU), and based on recent comments from Agrium CEO Chuck Magro it sounds like the two sides are off to an amicable start and ValueAct isn’t making any big demands upfront.

“We’ve had very good two-way dialogue,” said Magro, reports Rod Nickel for Reuters. “So far, what they’re telling me is the reason they’ve invested in Agrium is they like the strategic plan.”

Magro wouldn’t say if ValueAct wants a board seat

Magro wouldn’t comment on whether or not ValueAct is seeking a board seat, but we know that the fund’s normal...