fertilizer stocks

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.

BHP Billiton Warns It Won't Buy Potash Corp 'At Any Cost'

BHP Billiton (BHP), the world%u2019s 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.

Potash Rejects BHP Billiton Offer as 'Grossly Inadequate'

Potash Corporation of Saskatchewan Inc. (POT) rejected an offer to be bought by BHP Billiton Limited (BHP), saying it was "grossly inadequate." BHP Billiton offered to pay $130 per share in cash, PotashCorp said in a statement. PotashCorp%u2019s board unanimously rejected the offer. PotashCorp Chairman Dallas Howe sent a letter to Jacques Nasser, chairman of BHP Billiton, saying that the offer fails of reflect the value of PotashCorp%u2019s position in the industry, the value of planned capacity expansions and the value of the company%u2019s equity investments.