Asia Bizz: Potash Corp. Will Be Eying Superior Deals The BHP Billiton
The Board of Potash Corp. has told its shareholders that it will be rejecting the $39 billion deal of BHP Billiton and will venture to find a more superior deal. Potash Corp. is the world’s largest potash producer and BHP Billiton was looking ahead to take over the company by presenting it with a hostile $39 billion deal.
But the officials at Potash stated that it will be rejecting this deal and will surely be looking at some alternative or a bigger deal than Billiton. Reports have also stated that rather than Billiton, Potash has come in contact with China’s Sinochem and Brazil’s Vale group.
Potash Corp shares were up by 1% and the shares priced at $151 at the NYSE. The Toronto Stock exchange closed Potash Corp Shares at $157 on Friday. BHP Billiton had shown its interest to takeover Potash in a bid to become the worlds largest producer of potash.
