Sinochem

Sinochem Finds Little Govt. Support for Potash Bid

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.

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.