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Canadian fertilizer shares jump, firms confirm merger talks

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Agrium: Have held merger talks with Potash

Both Agrium and Potash confirmed late Tuesday morning they are in discussions for a merger of equals.

Shares of the Canadian fertilizer firms initially jumped 12 percent before trade was briefly halted, after Bloomberg reported that both companies were in talks about a merger. Options were active on rumors of the discussions.

The stocks briefly reopened before trade was temporarily halted again. Trade resumed after official confirmation from the two firms.

Agrium shares ended the day up 7 percent, while shares of Potash climbed more than 10 percent on the day. Both stocks traded in positive territory for the year.