MELBOURNE, AUSTRALIA — AWB Limited announced on Oct. 4 that it has been advised by Agrium Inc. that it has received clearance from the Australian Foreign Investment Review Board (FIRB) in relation to Agrium’s proposed acquisition of AWB under a scheme of arrangement at a price of A$1.50 per share.

FIRB has notified Agrium that there are no objections to the proposed acquisition in terms of the Australian government's foreign investment policy.

As a result, the condition precedent to the scheme implementation deed between AWB and Agrium in relation to this approval is now satisfied.

AWB and Agrium continue to progress seeking the required regulatory, shareholder and court approvals.