By Adriano Marchese
Shares of Canadian fertilizer company Nutrien were down Thursday morning after TRC Capital Investment said it has terminated its cash tender offer to purchase 1 million of its common shares.
TRC Capital said the offer was subject to a condition of a market price condition that wasn’t satisfied, and TRC said it will return all validly tendered shares to their respective holders.
At Wednesday’s closing price of 84.67 Canadian dollars ($63.32), the shares would have been worth about C$84.7 million.
Shares were down 2.9% at C$82.24 at 9:33 a.m. ET.
Write to Adriano Marchese at adriano.marchese@wsj.com
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