Potash Corp., Agrium to be called Nutrien once merger closes

Potash Corporation of Saskatchewan and Agrium Inc. of Calgary have announced a new merging company name: Nutrien.

It was announced on Wednesday that once the merger transaction closes, the combined companies will adopt the new name.

The regulatory review and approval process for the merger transaction is continuing, according to a news release. The transaction is expected to close in the third quarter of this year.

• Potash Corp., Agrium agree to merger that would create $36B agriculture giant

In September 2016, the two companies agreed to merge in a deal that would create a global agricultural giant with an enterprise value of $36 billion US.

The deal would bring together Saskatoon-based PotashCorp's huge fertilizer mines with Agrium's extensive global direct-to-farmer retail network to create an agricultural colossus.

The new firm would be the world's No. 1 producer of potash and No. 2 producer of nitrogen fertilizer with operations in 18 countries and more than 20,000 employees worldwide.