I have detailed my thoughts on the Fertilizer buyout dance and how CF in its bid to stay independent overpaid. I expected the market to punish the company but the dramatic decline of CF stock exceeded my expectation. True the whole Ag space is under pressure but CF is down more than 30% compared to AGU, 12%.
This was easy short. Most of the time mergers destroy value but to overpay in such reckless fashion is a whole other story.
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