Inside these posts: Hostile takeover bid

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Nasdaq and ICE not walking away from NYSE bid

Nasdaq OMX Group and IntercontinentalExchange Inc are not going to walk away from their bid for NYSE Euronext, despite the NYSE board’s rejection of the unsolicited offer, according to people familiar with the matter. Get the full story »

Nasdaq bid for NYSE could come this week

Nasdaq OMX Group Inc is preparing an offer for NYSE Euronext and the bid could come as early as this week, the Wall Street Journal reported on Monday, citing people familiar with the matter.

CME Group said to be interested in NYSE

Chicago-based CME Group is considering horning in on merger talks between the New York Stock Exchange owner and a stock exchange in Germany, according to reports.

CME, which employs about 2,000 in Chicago, is considering a strategic response to the impending takeover of the Big Board by Deutsche Boerse AG. Get the full story »

Court to rule on Potash injunction request

A U.S. court will rule on Potash Corp.’s request for a preliminary injunction against unsolicited suitor BHP Billiton ahead of the November 18 deadline on the Anglo-Australian miner’s $39 billion tender offer, Judge David Coar said on Monday. Get the full story »

Potash: Shareholders need details on BHP plan

From Bloomberg | A lawyer for Potash Corp. of Saskatchewan Inc., the world’s biggest fertilizer company, say the company’s shareholders need more information about BHP Billiton Ltd.’s plans to acquire the company or to compete against it.

Canada lets slip one reason for blocking BHP bid

Canada’s farm minister offered one reason that Canada blocked the proposed takeover of Potash Corp. on Thursday, but markets will have to wait a month for all the details to emerge.

Farm Minister Gerry Ritz, in comments his office later said were just speculation, argued that letting BHP Billiton buy the fertilizer giant would have offered Australia’s farm sector too much of an advantage. Get the full story »

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 »

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 »

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 »

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 »

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 »

J.C. Penney adopts rights plan to thwart Ackman

J.C. Penney’s board approved a “poison pill” designed to fend off potential takeover threats after hedge fund manager William Ackman acquired one-sixth of the retailer. The company’s shares fell 3 percent on the news. Get the full story »

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 »