BHP Billiton’s hostile bid for the Potash Corporation of Saskatchewan has hit a regulatory snag that may derail the proposed $38.6 billion deal before shareholders have their say on the matter. Talks between BHP and the government of Saskatchewan apparently broke down over how much BHP would agree to pay into a special infrastructure fund [...]
10:43 a.m. | Updated By JAMES KANTER BRUSSELS — Antitrust authorities from around the world have signaled objections to a $116 billion joint venture between BHP Billiton and Rio Tinto, leaving the deal’s fate uncertain. The German antitrust agency, the Federal Cartel Office, said Thursday that it had told the companies of its concerns after [...]
China’s Sinochem Corp. will not launch a counterbid for Potash Corp., abandoning efforts to spoil BHP Billiton’s $39 billion (24.35 billion pound) bid for the Canadian fertilizer maker, Reuters reported. The Chinese state-owned chemicals group, which appointed Deutsche Bank and Citigroup last month as it looked at putting together a consortium to thwart BHP’s hostile [...]
A U.S. federal judge said on Monday he would allow the discovery process to proceed in a lawsuit filed by Potash Corp. to fend off BHP Billiton’s $39 billion hostile takeover bid. The lawsuit, filed last week in a U.S. District Court in Chicago, alleges that BHP misrepresented material facts related to its bid for [...]
The chief executive of BHP Billiton said Tuesday that the British-Australian mining company was prepared to walk away from its $38.6 billion bid for the Potash Corporation of Saskatchewan if a rival suitor were to make an offer so high that a deal did not make sense for BHP’s shareholders, Reuters reports. “If somebody offers [...]
It is hardly a household word like, say, the oil cartel OPEC. That is why Canpotex, an organization with a corner on Canada’s potash production, used to go about its business in nearly complete obscurity. But that was before the multinational mining and minerals giant BHP Billiton made a $38.6 billion, unsolicited bid last month [...]
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