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 »
Sinochem Group
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China firm hires banks to explore Potash counterbid
China’s Sinochem Corp. has hired banks to advise it how to foil BHP Billiton’s $39 billion bid for Potash Corp., two sources with direct knowledge of the matter told Reuters.
The state-owned chemicals group had hired Deutsche Bank and Citigroup for the purpose, the sources said after BHP extended its offer for Potash, the world’s largest fertilizer group, by a month to November 18 to provide Canada’s competition regulator with more information. Get the full story »
Brazil’s Vale denies it’s bidding for Potash
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 »
Chinese firms potential suitors for Potash
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 »
