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Brazilian mining giant Vale Monday denied market talk it is planning a bid for Canada’s Potash Corp., as Potash seeks to fends off a $39 billion takeover offer from Australia’s BHP Billiton.
“The rumors that the company has bid to acquire or is negotiating to buy a fertilizer company (are) totally unfounded,” Vale said in statement. Get the full story »
Potash Corp. of Saskatchewan Inc. said Monday that its board voted unanimously to reject BHP Billiton’s hostile $38.5 billion takeover offer as it doesn’t reflect the strong growth the company believes it is poised to enjoy.
The Canadian company said it’s in talks with several companies who have approached it or it has initiated contact with.
Potash Corp. of Saskatchewan Inc. said it has been approached by third parties the past week following BHP Billiton Ltd.’s unsolicited $38.6 billion takeover bid as it formally recommended its shareholders not tender shares in support of BHP’s offer.
The board of world’s largest fertilizer maker by capacity rejected BHP’s approach, made privately, which prompted BHP to take the offer directly to Potash’s shareholders. Get the full story »
BHP Billiton’s entry into the potash industry through a bid for market leader Potash Corp could shake up a cozy system of pricing and production if, as some expect, the newcomer shuns existing arrangements and runs plants at full capacity. Get the full story »
Potash Corp. searched for a white knight Friday as BHP Billiton formally launched it $39 billion hostile offer for the world’s largest fertilizer firm.
Potash is soliciting alternative bidders willing to pay more than the $130 a share offered by BHP, the world’s largest mining company, a source close to the matter said. Get the full story »
Potash Corp. moved Thursday to find a buyer willing to top BHP Billiton’s $39 billion hostile offer for the world’s largest fertilizer company as shareholders balked at a bid they consider too light to support.
If a deal goes through, it would mean an extraordinary payday for Potash Chief Executive Bill Doyle, who lives in Winnetka and runs the company out of offices in Northbrook. Get the full story »
Marius Kloppers, chief executive of BHP Billiton, says his company brings four decades of know-how to the table in asking Canadian regulators to approve its proposed takeover of Potash Corp of Saskatchewan. Lawyers say BHP, the world’s largest miner, may need its experience to ease concerns about another foreign takeover of a marquee Canadian resource company. Get the full story »
BHP Billiton Ltd. took its $38.6 billion offer for Potash Corp. of Saskatchewan Inc. direct to its shareholders, a day after Potash’s board rejected the bid by mining company.
Shares of Potash, the world’s largest fertilizer producer, continued to trade Wednesday well above BHP’s $130-a-share offer. The stock closed at $147.93, up 3.3 percent, on the New York Stock Exchange. Shares soared 27.7 percent Tuesday to close at $143.17, after news of BHP’s offer broke. Get the full story »
BHP Billiton, no stranger to hostile takeover battles, is moving fast to counter Potash Corp’s “poison pill” defense against its hefty $39 billion takeover bid.
Barely 24 hours after its $130 per share was made public, the world’s largest miner said on Wednesday it would make the offer direct to shareholders in an effort to circumvent a shareholder rights plan rolled out by Potash Corp’s board on Tuesday. Get the full story »
Shares in Potash Corp. were up about 27 percent in afternoon trading on the New York Stock Exchange after the company said its board had received and rejected an unsolicited takeover bid from BHP Billiton Ltd. The bid is worth about $38.49 billion. Potash said it undervalues the fertilizer producer.
BHP Billiton, an Australian natural resources company, is offering to buy Potash for $130 per share, a 16 percent premium over Monday’s closing price. Potash, which has its U.S. headquarters in Northbrook, said its board has adopted a shareholder rights plan, also known as a poison pill, to give the company time to better develop alternatives to enhance shareholder value. Get the full story »
