BHP Billiton Potash

Potash Sinks After Canada Rejects BHP Billiton Bid

Shares of Potash Corp. of Saskatchewan were down in morning trading Thursday after Canada provisionally blocked BHP Billiton's bid to buy the company, and it appears unlikely that the government, focused on protecting national assets and natural resources, will change its mind later.

Canada Rejects Takeover Bid for Potash

In a surprise decision by a government that has historically favored foreign investment, Canada has rejected a $38.6 billion foreign takeover bid for Saskatchewan-based Potash Corp.

BHP Will Lodge Motion to Remove Legal Obstacle to Potash Bid

BHP Billiton (BHP) will lodge a motion intended to remove a legal obstacle to its $39 billion hostile takeover bid for Potash Corp (POT). BHP said it plans to file a motion challenging a lawsuit filed by Potash Corp., which alleges that BHP misrepresented material facts related to the bid.

Sinochem Closer to Countering BHP's Bid for Potash

The FTC has cleared a BHP Billiton bid for Potash Corp., but that hardly matters. Authorities in the fertilizer company's home country of Canada may not approve the transaction. And it looks like BHP won't be the only bidder. The giant Chinese conglomerate Sinochem is working on an offer.

Summer's Sudden Boom in Mergers and Acquisitions

After a couple of fairly sleepy years, mergers and acquisition activity has bounced back dramatically, with potential long-term consequences for the stock market. It's a rare ray of hope at a time when other economic indicators are pointing straight toward the floor.