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.
Co…
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.
BHP will file its motion in the next few days, Reuters reported.
Potash Corp. rejected BHP…
Continue reading BHP Will Lodge Motion to Remove Legal Obstacle to Potash Bid
BHP Will Lodge Motion to Remove Legal Obstacle to Potash Bid originally appeared on DailyFinance on Fri, 01 Oct 2010 07:44:00.
Filed Under: Company News, Investing, Green, Stocks in the News
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. T…