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Canadian fertilizer producer Potash Corp. said Friday its board of directors will review the $38.5 billion hostile takeover bid from BHP Billiton Ltd., shortly after BHP formally launched its offer.
Potash Corp., the world’s largest fertilizer producer, advised shareholders not to take any action on the Australian mining giant’s bid until its review process is complete. 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 »
From Bloomberg | Archer Daniels Midland Co., Potash Corp. of Saskatchewan Inc. and Eagle Bulk Shipping Inc. stand to benefit after Russia, the fifth-largest wheat grower, banned exports of the grain because of its worst drought in 50 years.
Potash Corp. of Saskatchewan on Thursday posted a quarterly profit that more than doubled and easily outstripped expectations, as sales volumes more than quadrupled, offsetting lower prices for the crop nutrient. Get the full story »
