Russia in talks for Potash bid

first_img Russia in talks for Potash bid whatsapp Friday 5 November 2010 12:43 am Show Comments ▼ A RUSSIAN group said yesterday it was in intensive talks ahead of launching a rival bid for Potash Corp, as BHP Billiton said its blocked $39bn (£24.7bn) bid for fertiliser group Potash Corp was not dead and pledged to work with the Canadian government.Phosagro claimed it was in intensive talks with the Russian government and potential partners for a rival bid, and said it would announce its next move after 15 November.Meanwhile, a spokesperson for BHP said yesterday that the Anglo-Australian mining giant will continue to work with Industry Canada to resurrect its takeover offer, which was blocked by industry minister on Wednesday night. The firm has 30 days to meet the government’s conditions, which have not been made public. However, agriculture minister Gerry Ritz hinted yesterday that the BHP’s Australian roots had been a factor. “Australia is a major marketer of a lot of the same foodstuffs that Canada is. We’re a volume producer – so are they,” he said in a speech. BHP’s London-listed shares rocketed 6.6 per cent yesterday as relieved investors saw the odds of an expensive takeover lengthen dramatically. Shares in Potash fell 2.4 per cent. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Share KCS-content Tags: NULLlast_img read more