BHP fights for a Potash deal

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first_img Share BHP fights for a Potash deal KCS-content whatsapp Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndocenter_img BHP BILLITON faces a crucial week in its fight to buy Potash Corp, with the Canadian government and US courts deciding whether to allow its $39bn (£24.7bn) hostile offer to proceed.Potash attempted to goad BHP into raising its $130 a share bid at the weekend in a Canadian court filing, claiming it was “very likely” that the FTSE 100-listed firm would increase its offer given that Potash shares were trading at $147.32 on Friday. Potash also claimed that it “has engaged in discussions with 15 strategic, financial and state-sponsored potential bidders or investors.” A Potash spokesperson declined to comment further yesterday, though more details could emerge when the firm appears in an Illinois court as part of its lawsuit against BHP on Thursday. A Sunday newspaper also reported yesterday that BHP would sweeten its deal by around 10 per cent once it has cleared the looming regulatory hurdles. BHP declined to comment on whether or when it would raise its bid.Canadian authorities have until Wednesday to either block or allow BHP’s takeover offer, depending on whether it sees an economic benefit for the country. The government in Saskatchewan, where Potash is based, has opposed the deal, but several sources have claimed the federal government will give the green light. BHP continues to seek a cease trading order on Potash’s new shares, which it issued in September as part of a “poison pill” defence. Potash said it diluted BHP’s share holding to give it time to find alternative bids, and continues to fight the case with the Saskatchewan Financial Services Commission. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Sunday 31 October 2010 11:31 pm Tags: NULLlast_img read more