Asia Bizz: BHP Billiton Scraps Potash Corp. Bid
Mining giant BHP Billiton has scrapped the $39 billion Potash Corp. bid, which it had shown interest in a couple of months back. It was after the regulators rejected this bid and the concerned investors asked for their cash to be returned, which eventually led to the clogging of the deal. BHP Chief Executive Marius Kloppers, stated that the company was wondering what sort of future prospects could it hold after acquiring Potash.
One of the shareholders of BHP stated that “Certainly the best investment is probably in themselves at the moment”. Canada on the other hand too has rejected the bid for the take over, as it was given a period of a month to prove what the takeover would mean to the nation.
It can be concluded here, that BHP would be venturing towards new companies as the company itself has a capacity to buy and rejuvenate any other infrastructure and company it lays its hands on.