A Russian court has halted the $23.9 billion merger of Russian potash miners, Uralkali and Silvinit, Reuters reports. Fertilizer group, Acron, which owns 6% of Silvinit, has claimed that the terms of the deal are unfavorable to Silvinit’s minor shareholders and better suited to those of Uralkali.
The court has issued a temporary injunction on the merger agreement pending a hearing on April 12, 2011. Uralkali’s acquisition of a 20% stake in Silvinit, which forms part of the merger process, will not be affected by the ruling.
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