CF Industries Holdings Inc. said its quarterly revenue more than doubled, but the fertilizer producer’s profit missed forecasts and it took several one-time charges, sending its shares diving more than 5 percent. Get the full story »
Inside these posts: Fertilizer
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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 »
Russian company plans to bid for Potash
Russian fertilizer company Phosagro plans to bid for Potash Corp, according to a media report, rivalling BHP Billiton’s $39 billion offer awaiting a crucial ruling from the Canadian government. Phosagro Chairman Vladimir Litvinenko has asked Russian Prime Minister Vladimir Putin to approve a potential deal and request financing from Russian banks, Russian business daily Vedomosti reported on Wednesday. Get the full story »
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
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 »
Bunge net profit falls 9%
Agricultural processor Bunge Ltd’s third-quarter net profit slipped on charges but it said it was on track to meet or exceed its full-year target amid rising revenue and improving oilseed processing margins. 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 »
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 »
