Tags: CN | Canada | Potash | BHP | Hostile | Takeover

Potash Says BHP Won't Be Only Bidder

Tuesday, 07 Sep 2010 01:41 PM

The chief executive of Potash Corp. of Saskatchewan Inc. believes BHP Billiton Ltd will not be the only bidder for the Canadian company.

Chief Executive Officer Bill Doyle said on a video posting on Potash Corp.'s website on Tuesday that a number of parties have expressed an interest in alternative transactions.

Doyle says while they continue to discuss those options, they believe that Potash is poised to achieve results as an independent standalone company that "far surpasses BHP's inadequate offer."

Australia's BHP Billiton Ltd., the world's biggest mining company, launched a hostile $130-a-share takeover on Aug. 18 after Potash directors rejected its offer.

Potash Corp. is the world's largest fertilizer company.

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The chief executive of Potash Corp. of Saskatchewan Inc. believes BHP Billiton Ltd will not be the only bidder for the Canadian company.Chief Executive Officer Bill Doyle said on a video posting on Potash Corp.'s website on Tuesday that a number of parties have expressed an...
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2010-41-07
Tuesday, 07 Sep 2010 01:41 PM
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