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Potash Corp. of Saskatchewan Inc. said Monday that its board voted unanimously to reject BHP Billiton’s hostile $38.5 billion takeover offer as it doesn’t reflect the strong growth the company believes it is poised to enjoy.
The Canadian company said it’s in talks with several companies who have approached it or it has initiated contact with.
Potash Corp. searched for a white knight Friday as BHP Billiton formally launched it $39 billion hostile offer for the world’s largest fertilizer firm.
Potash is soliciting alternative bidders willing to pay more than the $130 a share offered by BHP, the world’s largest mining company, a source close to the matter said. Get the full story »
Canadian fertilizer producer Potash Corp. said Friday its board of directors will review the $38.5 billion hostile takeover bid from BHP Billiton Ltd., shortly after BHP formally launched its offer.
Potash Corp., the world’s largest fertilizer producer, advised shareholders not to take any action on the Australian mining giant’s bid until its review process is complete. Get the full story »
BHP Billiton Ltd. took its $38.6 billion offer for Potash Corp. of Saskatchewan Inc. direct to its shareholders, a day after Potash’s board rejected the bid by mining company.
Shares of Potash, the world’s largest fertilizer producer, continued to trade Wednesday well above BHP’s $130-a-share offer. The stock closed at $147.93, up 3.3 percent, on the New York Stock Exchange. Shares soared 27.7 percent Tuesday to close at $143.17, after news of BHP’s offer broke. Get the full story »
BHP Billiton, no stranger to hostile takeover battles, is moving fast to counter Potash Corp’s “poison pill” defense against its hefty $39 billion takeover bid.
Barely 24 hours after its $130 per share was made public, the world’s largest miner said on Wednesday it would make the offer direct to shareholders in an effort to circumvent a shareholder rights plan rolled out by Potash Corp’s board on Tuesday. Get the full story »
