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Takeover decision to be announced after close

Takeover decision to be announced after close

Canada's federal government will announce whether it will block BHP Billiton's foreign takeover bid for Potash Corp. after markets close.
Erik Waddell, a spokesman for Industry Minister Tony Clement, confirmed the Wednesday timing.
Anglo-Australian BHP Billiton, the world's largest mining company, is attempting a hostile $38.6 billion takeover of Potash Corp.
The government faces a dilemma. On the one hand, it firmly believes in the free market. On the other, it will be risky for a federal prime minister to overrule a provincial premier, and Saskatchewan's premier is dead set against the takeover.
Saskatchewan-based Potash Corp. controls more than 25 percent of the world's supply of potash, a fertilizer ingredient critical to the global food supply.


Updated : 2021-06-19 00:11 GMT+08:00