Asia Bizz: BHP Billiton All Set To Strengthen Its Bid Over Potash Corp, A Strong Move Against Rival Bidders
BHP Billiton is now strengthening its $39 billion bid over Potash corp, which is a significant move over its rival bidders. Billiton has stated that it is incurring a 50% jump in its revenue in the second half, and is a direct warning to its rivaling bidders for Potash Corp.
Billiton officials have said that their Balance Sheets and Cash Flow statements are showing very good signs of the company. They are looking straight ahead to acquire Potash. Potash Corp on the other hand had stated that they were also looking at alternative bidders and would also consider the options to get into a joint venture too.
Potash Chief Bill Doyle, has stated that they are expecting more than the price kept on the table, but for the moment they have not disclosed any price set by the other companies. Canada’s media has said that a potential bidder, Rio Tinto from Brazil is looking ahead for the acquisition along with a Chinese partner.
Source: Reuters
