Oct. 18, 2010 at 4:20 p.m.
Filed under:
Agriculture/Farming,
Investing,
M&A
By Reuters
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 »
Oct. 15, 2010 at 12:40 p.m.
Filed under:
Agriculture/Farming,
China,
International,
M&A
By Reuters
News that China’s Sinochem will not launch a counterbid for Potash Corp., removes one of the biggest potential obstacles to BHP Billiton’s $39 billion offer for the Canadian fertilizer giant.
The fate of Potash is far from certain, however, as other white knights may emerge, and BHP faces regulatory hurdles on the one hand and demands from Potash for a higher bid on the other. Get the full story »
Oct. 14, 2010 at 3:07 p.m.
Filed under:
Agriculture/Farming,
Exchanges
By Reuters
CME Group Inc. said on Thursday it would launch a new set of rainfall futures and options contracts for traders looking to hedge risk in the agricultural commodities markets.
The new contracts, which will be based on the amount of rainfall in cities such as Chicago, Des Moines, Iowa, New York and the Dallas-Fort Worth area, will start trading on Nov. 1, CME Group said in a statement. Get the full story »
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 »
Oct. 11, 2010 at 6:02 a.m.
Filed under:
Agriculture/Farming,
China,
International,
M&A
By Reuters
Rival bidders may be looking to derail BHP Billiton’s $39 billion bid for Canada’s Potash Corp., with China’s Sinochem and a Canadian pension fund working on plans, according to newspaper reports. Get the full story »
Oct. 8, 2010 at 11:20 a.m.
Filed under:
Agriculture/Farming,
M&A,
Stock activity
By Reuters
Shares of Potash Corp. and other leading fertilizer makers jumped on Friday after the U.S. government estimated a smaller-than-expected U.S. corn harvest, driving up prices of the nutrient-intensive crop.
Shares of Agrium, Mosaic Co. and CF Industries also rose on the data. Get the full story »
Oct. 5, 2010 at 9:48 a.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
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 »
Oct. 4, 2010 at 2:43 p.m.
Filed under:
Agriculture/Farming,
International
By Reuters
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 »
Oct. 1, 2010 at 5:26 a.m.
Filed under:
Agriculture/Farming,
Litigation,
M&A
By Reuters
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 »
Sep. 27, 2010 at 11:12 a.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
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 »
Sep. 24, 2010 at 3:26 p.m.
Filed under:
Agriculture/Farming
By Associated Press
Grain prices rallied Friday on worries that heavy flooding in the central United States could damage this fall’s harvest.
Sep. 23, 2010 at 5:39 p.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
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 »
Sep. 22, 2010 at 11:11 a.m.
Filed under:
Agriculture/Farming,
Litigation,
M&A,
Updated
By Reuters
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 »
Sep. 22, 2010 at 9:24 a.m.
Filed under:
Agriculture/Farming,
China,
International,
M&A
By Reuters
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 »
Sep. 21, 2010 at 4:22 p.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
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 »
