06/21/2017 13:26 EDT | Updated 06/21/2017 14:00 EDT

PotashCorp and Agrium to be named Nutrien once merger closes later this year

SASKATOON — Potash Corporation of Saskatchewan Inc. (TSX:POT) says it will be known by the much shorter name of Nutrien Inc. once it completes a merger with Agrium Inc. (TSX:AGU) later this year.

When the deal was announced last September, it was estimated the combined company would have an enterprise value of US$36 billion by joining PotashCorp's extensive mining operations with Agrium's mining and retail network.

The merger still needs regulatory approval but the companies say they expect to close the deal in the third quarter of this year.

The head office for Nutrien will be in Saskatoon where PotashCorp is based.

The organization will also keep a corporate office at Agrium's home city of Calgary.