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 »
Potash
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Nov. 2, 2010 at 4:23 p.m.
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Filed under: Agriculture/Farming, International, M&A, Updated Canada insists no decision yet on BHP’s Potash bid
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 »
Oct. 28, 2010 at 5:43 a.m.
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Filed under: Agriculture/Farming, Earnings, International, M&A 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 »
Oct. 25, 2010 at 1:53 p.m.
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Filed under: Agriculture/Farming, Government, International, M&A 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 »
Oct. 21, 2010 at 2:30 p.m.
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Filed under: Agriculture/Farming, International, M&A, Policy, Politics, Updated 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 »
Oct. 20, 2010 at 3:26 p.m.
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Filed under: Agriculture/Farming, International, Jobs/employment, M&A Harper: Potash an ‘American-controlled company’
Canadian Prime Minister Stephen Harper weighed in on miner BHP Billiton’s $39 billion bid to take over Saskatchewan-based Potash Corp. on Wednesday, calling it a proposal by an Australian-based company to take over an American-controlled company.
The Conservative government has until Nov. 3 to decide whether to approve the bid for Potash, the world’s biggest fertilizer producer. Ottawa is required to determine whether the bid would be a net benefit for Canada. 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 »
Oct. 15, 2010 at 12:40 p.m.
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Filed under: Agriculture/Farming, China, International, M&A 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 »
Oct. 14, 2010 at 10:34 a.m.
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Filed under: Agriculture/Farming, Chicago executives, M&A, Personnel moves, Updated Potash to move some staff to Canada
Potash Corp. has pledged to move key staff from Chicago to Saskatchewan province as it tries to win political favour by matching BHP Billiton’s promise to beef up its Canadian headquarters if it wins control of the fertilizer maker.
Saskatoon-based Potash outlined a series of commitments to the province in a bid to sway political opinion against BHP which has also promised to move key jobs back to Canada if its $39 billion takeover bid is successful. Get the full story »
Two teams try lining up Potash Corp. bids
Rival bidders may be looking to derail BHP Billiton’s $39 billion bid for Canada’s Potash Corp., with China’s Sinochem and a Canadian pension fund working on plans, according to newspaper reports. Get the full story »
Potash stocks soar on corn data
Shares of Potash Corp. and other leading fertilizer makers jumped on Friday after the U.S. government estimated a smaller-than-expected U.S. corn harvest, driving up prices of the nutrient-intensive crop.
Shares of Agrium, Mosaic Co. and CF Industries also rose on the data. Get the full story »
BHP Potash bid backed in report over Chinese foray
A takeover of Potash Corp. by BHP Billiton could cost Saskatchewan $1.96 billion over 10 years, a report says, but it warns the Canadian province against opposing the miner’s bid for the world’s largest fertilizer producer. Get the full story »
BHP says it’s close to lodging Potash legal challenge
BHP Billiton said on Friday it expected to lodge a motion within the next few days to challenge a lawsuit filed by Potash Corp. to fend off the miner’s $39 billion hostile takeover bid. Get the full story »
Potash Corp. suit vs BHP allowed to proceed
A U.S. federal judge said Monday he would allow the discovery process to proceed in a lawsuit filed by Potash Corp to fend off BHP Billiton’s $39 billion hostile takeover bid.
The lawsuit, filed last week in a U.S. District Court in Chicago, alleges that BHP misrepresented material facts related to its bid for the world’s largest producer of potash — a key crop nutrient.
As part of the discovery process, Potash Corp have asked that BHP produce a long list of documents that include BHP’s statements regarding investments in the potash industry and the minutes of BHP’s board meetings that relate to the potash sector and its plans to develop its Jansen potash project in Saskatchewan. Get the full story »
