BHP Billiton plc (LON: BLT) climbs higher absorbing Potash Corp.

Potash Corp. passes into BHP Billington's property

In brief: BHP Billiton plc (LON: BLT) shares continued to rise against the background of the hostile takeover. Potash Corp. shares fluctuate against the background of mixed dynamics.

BHP Billiton plc (LON: BLT) climbed to 1,821.00 points, taking up +11.00 (0.61%). Mining company BHP Billiton has officially announced the beginning of the hostile takeover of Potash Corp, the world’s largest mineral fertilizer producer.

Details of this proposal remain unchanged since Wednesday when BHP announced that the Potash Corp. board of Directors rejected the takeover bid. Consequently the Australian company appealed directly to Potash Corp. shareholders. At the same time, Potash executives started looking for alternative proposals. BHP reiterated in a statement Friday its intention to pay $ 130 for each share of Potash Corp. The offer is valid until 19 October.

Igor Tringlers
2010-08-20 18:40, Economics.

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