Potash

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

In a surprise decision by a government that has historically favored foreign investment, Canada has rejected a foreign takeover bid for Saskatchewan-based Potash Corp. Australian mining company BHP Billiton had offered $38.6 billion in what would have been the world's largest corporate acquisition this year.

Sinochem Group may be unable to bid for Potash Corp. (POT), as the Chinese company is struggling to get state backing for the move. The Chinese government has said it would prefer that the bid not be financed by credit from state banks, Bloomberg News reported without naming its sources....

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....

China's Sinochem Corp. invited Temasek, Singapore's sovereign wealth fund, to join a consortium that may bid for Potash Corp. (POT), Reuters reported. Temasek has not made any decision on whether to join the consortium, Reuters reported without naming its sources. It is not clear if the...

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.

When BHP Billiton made its offer to acquire Potash Corp., two residents of Madrid, Spain, made $1.1 million by buying out-of-the-money call options ahead of the announcement, the Securities and Exchange Commission claims. The SEC is suing the investors, and has frozen $1.1 million of their assets.

BHP Billiton, the world's biggest miner, says it won't substantially raise its hostile $39 billion bid for Potash even though its quarterly results show it has plenty of cash to go around. "I will be as disciplined on this bid as I've been on every other endeavor," CEO Marius Kloppers told...

BHP Billiton (BHP), the world's largest mining company, warned that it is not willing to buy Potash Corp (POT) "at any cost." CEO Marius Kloppers made the warning after announcing bumper profits for the first half of the year, Reuters reported. "I will be as disciplined on this bid as I've been...

After rejecting a $38 billion offer from BHP Billiton, Potash Corp. is now very much in play. Investors have good reason to think that the stock price could be headed much higher in the coming weeks.