BHP Billiton plc (LON: BLT) and Potash Corp. (NYSE: POT) deal breaks down
BHP Billiton plc unable to solve issues with Potash Corp.
In brief: Sinofert, the leading Chinese fertilizer producer owning 22% of Potash shares, is the most likely candidate able to make an alternative takeover proposal.BHP Billiton plc (LON: BLT) shares fall to 1,801.50 points, losing -8.50 (-0.47%). Potash Corp. board is lloking for potential buyers able to make a better offer than the world’s largest mining company BHP Billiton.
BHP Billiton currently attempts to take a hostile takeover of Canadian manufacturer of fertilizers for $ 39 billion, may spark interest with Chinese companies. Potash Corp. of Saskatchewan Inc. announced Aug. 17 that its board of directors received and rejected a takeover bid from BHP Billiton Ltd. The Fertilizer producer stressed that the proposal underestimated the real value of the company. Consequently BHP, which aims to become the largest supplier of fertilizers in the world, hired Mackenzie Partners to organize direct talks with Potash Corp. shareholders.
Anrey Torbinski2010-08-20 14:23, Economics.
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