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Uralkali Merger Challenged

By The Moscow Times

Silvinit minority shareholders filed a court claim seeking to block the company's merger with another potash producer, Uralkali, according to the

Moscow-based Investor Protection Association.

Members of the association and fertilizer maker Acron, which holds an 8 percent stake in Silvinit, filed the claim to the arbitrage court of the Perm region late last week seeking injunctions claiming that "the company's valuation for the deal is unfair."

Uralkali said Monday that the court issued a temporary injunction on decisions made at a shareholders meeting relating to the company's merger agreement with Silvinit.

(Bloomberg)

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