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Potash Corp. slammed a report commissioned by the province of Saskatchewan that favors BHP Billiton’s $39 billion offer for the fertilizer maker over a potential bid from a state-owned Chinese entity.
The Conference Board’s report, released on Monday, cautioned the provincial government against thwarting BHP’s takeover bid, saying that would depress Potash Corp’s share price and could have a negative impact on new investment in the province. Get the full story »
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 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 »
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 »
BHP Billiton said on Thursday it has received antitrust clearance from U.S. regulators to proceed with its $39 billion bid for Canada’s Potash Corp, clearing its first regulatory hurdle in the process.
Last month, the Anglo-Australian miner launched its hostile offer to take over the world’s largest fertilizer company. Potash Corp has flatly rejected the bid as “grossly inadequate” and filed a lawsuit against BHP in an attempt to stymie it. Get the full story »
Potash Corp. said Wednesday it filed a lawsuit against BHP Billiton that seeks to block the mining giant’s $39 billion hostile bid for the Canadian fertilizer producer.
The lawsuit filed in a U.S. District Court alleges that BHP misrepresented and failed to inform investors about material facts, and it accuses BHP of engaging in fraudulent, deceptive and manipulative behavior related to its offer. Get the full story »
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 »
BHP Billiton’s $39 billion battle to take control of Canada’s Potash Corp. is expected to drag on into next year after it failed to win immediate backing from Canadian authorities.
The Anglo-Australian miner, which wants to use the world’s largest fertiliser-maker as its entry into the global food industry, also said it had no plan to change its $130-a-share offer and shrugged off talk of a China-backed rival bid emerging. Get the full story »
BHP Billiton CEO Marius Kloppers visited the home city of Potash Corp. on Monday but failed to win the support of the provincial premier for its $39 billion offer to take over the world’s largest fertilizer supplier.
Saskatchewan Premier Brad Wall said he still has concerns about BHP’s proposal after meeting with Kloppers, who sought to bolster the chances that Canada would approve the bid by winning the province’s support. Get the full story »
Canada’s prime minister says concerns surrounding a possible foreign takeover of Canada’s Potash of Saskatchewan will be examined and says foreign takeovers are not automatically approved. Get the full story »
From The New York Times | Potash Corp. of Saskatchewanon put up several videos of William Doyle, its chief executive, on Tuesday, to explain why shareholders are better off sticking with the company than flocking to BHP’s offer.
BHP Billiton, the world’s biggest miner, tried to dampen expectations it would substantially raise its hostile $39 billion bid for Potash Corp. as bumper results showed it has plenty of firepower.
“I will be as disciplined on this bid as I’ve been on every other endeavour,” Chief Executive Marius Kloppers told a conference call with reporters on Wednesday. “The shareholders own the company and it’s my job to create more value for them, not to do any one thing at any cost.” Get the full story »
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 »
