BHP Billiton

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Food inflation, bad weather lift Potash shares

Shares of North American agricultural companies, from fertilizer makers to grain handlers, will likely surge this year as weather-related crop damage causes global food price inflation.

Potash Corp. shares in New York have shot up more than 20 percent since mid-December to about $168, far exceeding the $130 per share offer it rejected last year in a hostile takeover bid by BHP Billiton. Get the full story »

Russia’s Phosagro to consult Canada on Potash bid

Russia’s Phosagro, chaired by an ally of Prime Minister Vladimir Putin, said on Tuesday it would consult with Canada’s government on a bid for Potash Corp., which has its offices and CEO in Northbrook, after BHP Billiton withdrew.

“Phosagro intends to consult with all interested parties, including the government of Canada, on the advisability of a bid to buy Potash Corp as an alternative to BHP Billiton’s previous bid,” the Russian fertiliser producer said in an e-mailed statement. Get the full story »

Potash Corp. ‘vindicated’ by scrapped BHP bid

Potash Corp. said it was vindicated in its decision to reject BHP Billiton’s offer of $130 a share as too cheap and was in a strong position to grow on its own.

Shares of Potash Corp. have traded consistently above the bid price, closing at $139.91 on Friday.

BHP Billiton scrapped its $39 billion bid for Canada’s Potash Corp. on Sunday and bowed to calls from investors to return cash, a move that came days after regulators blocked the year’s biggest takeover deal. Get the full story »

Court to rule on Potash injunction request

A U.S. court will rule on Potash Corp.’s request for a preliminary injunction against unsolicited suitor BHP Billiton ahead of the November 18 deadline on the Anglo-Australian miner’s $39 billion tender offer, Judge David Coar said on Monday. Get the full story »

Potash: Shareholders need details on BHP plan

From Bloomberg | A lawyer for Potash Corp. of Saskatchewan Inc., the world’s biggest fertilizer company, say the company’s shareholders need more information about BHP Billiton Ltd.’s plans to acquire the company or to compete against it.

Canada lets slip one reason for blocking BHP bid

Canada’s farm minister offered one reason that Canada blocked the proposed takeover of Potash Corp. on Thursday, but markets will have to wait a month for all the details to emerge.

Farm Minister Gerry Ritz, in comments his office later said were just speculation, argued that letting BHP Billiton buy the fertilizer giant would have offered Australia’s farm sector too much of an advantage. Get the full story »

Canada blocks BHP-Potash deal

The Canadian government on Wednesday blocked BHP Billiton’s $39 billion bid for Potash Corp., the world’s biggest producer of a key crop nutrient, halting what had been the world’s biggest takeover attempt this year and sending Potash Corp. shares tumbling.

Ottawa said the Anglo-Australian miner’s takeover bid offered no likely net benefit to the country as required by Canadian law. BHP has 30 days to make additional representations to the Canadian government before the decision is final. Get the full story »

Canada insists no decision yet on BHP’s Potash bid

Canada insisted on Tuesday it has made no decision yet on BHP’s $39 billion offer for Potash Corp., even as two newspapers said bureaucrats were advising the government to allow the bid and rumors swirled in the markets that Ottawa would block it. Get the full story »

Provinces mount pressure on Canada over Potash

Saskatchewan lined up more support for its attempt to overturn a hostile bid for provincial crown jewel Potash Corp. on Friday, increasing political pressure on the Canadian government to reject the deal.

Industry Minister Tony Clement must decide by midnight November 3 whether to approve the $39 billion bid from Anglo-Australian mining giant BHP Billiton. Get the full story »

Potash Corp. profit tops expectations

Potash Corp., the world’s top fertilizer maker, steamrolled quarterly earnings expectations on Thursday on the back of stronger potash demand and higher prices for its nitrogen- and phosphate-based nutrients.

The Canadian fertilizer maker is currently battling a $39 billion hostile bid from BHP Billiton. Potash Corp has flatly rejected BHP’s bid and launched a lawsuit against the Anglo-Australian miner in an attempt to stymie a takeover. Get the full story »

Potash files amended complaint in suit vs BHP

Potash Corp. on Tuesday filed an amended complaint in its lawsuit against unsolicited suitor BHP Billiton, offering fresh details from the court’s ongoing discovery process in the case. Get the full story »

Potash takeover opposition ‘no bargaining chip’

The Saskatchewan government’s opposition to BHP Billiton’s $39 billion takeover bid for Potash Corp., the crop nutrient producer based in the Canadian province, is not a negotiating stance aimed at squeezing concessions out of BHP, Premier Brad Wall said Monday.

Saskatchewan is recommending that the federal government reject the bid by BHP, the Anglo-Australian mining giant, on the grounds that it provides no net benefit to the country and will instead cost Saskatchewan revenue, jobs and strategic influence over a key commodity. Get the full story »

Canada province formally rejects BHP’s Potash bid

The Canadian province that is home to Potash Corp. said on Thursday it was opposed to a $39 billion bid by BHP Billiton to buy the world’s largest fertilizer supplier.

Saskatchewan will urge the federal government to block the Anglo-Australian miner’s hostile bid for Potash Corp, which is based in the province. Get the full story »

Potash may have little choice but to negotiate

With its options running out and time running out, Potash Corp may soon have little choice but to negotiate with BHP Billiton over the $39 billion bid that the world’s largest fertilizer supplier has flatly rejected.

Since the Anglo-Australian miner announced its hostile bid in August, Saskatchewan-based Potash Corp has repeatedly assured investors that a rival offer would emerge. None has, and nearly all of the prospective suitors mentioned two months ago are now considered out of the running. Get the full story »

What’s ahead for Potash with Sinochem out

News that China’s Sinochem will not launch a counterbid for Potash Corp., removes one of the biggest potential obstacles to BHP Billiton’s $39 billion offer for the Canadian fertilizer giant.

The fate of Potash is far from certain, however, as other white knights may emerge, and BHP faces regulatory hurdles on the one hand and demands from Potash for a higher bid on the other. Get the full story »