Asia Bizz: BHP Billiton Places a $39 Billion Bid On The Potash Corporation
The largest mining company on the planet from Australia has placed anÂ anonymousÂ bid worth $39 Billion on the Canadian company Potash Corporation, which has become the biggest takeover bid for this year. Â BHP stated that it was presenting a $130 per share offer to its shareholder to bypass Potash Corp. But some investment experts state that they need to still increase the price by 27% and make $ 143 for a share.
Tim Elliot, Mang. Director and CEO of the BHP stated that everyone is telling BHP to raise the price, as BHP has a cash pile of $11 billion and has its aim straight on the worlds largest fertilizer production company, Potash Corp.
BHP has made it clear that it wants to be the worlds lone largest producer of fertilizer and as it knows that there is lot of production of food crop going on in the countries like India and especially China, who has an unbelievableÂ apatiteÂ for food fertilizer.