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Canada blocks Potash Corp takeover

Canada blocks Potash Corp takeover

Canada's government has blocked BHP Billiton's foreign takeover bid for Potash Corp. of Saskatchewan.
Industry Minister Tony Clement said at this time he's not satisfied that the proposed transaction is likely to be a net benefit to Canada. Clement says BHP has 30 days to appeal.
Anglo-Australian BHP Billiton, the world's largest mining company, was attempting a hostile $38.6 billion takeover of Potash Corp., a Saskatchewan-based company that controls more than 25 percent of the world's supply of potash, a fertilizer ingredient critical to the global food supply.


Updated : 2021-05-12 13:51 GMT+08:00