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Wednesday, October 13, 2010

Potash Taking Action to Prevent BHP Takeover

Potash Corp has declared it will move some of its key staff from Chicago to Saskatchewan in hopes to match BHP Billiton's promise to enhance Canadian headquarters if it won the bid. Such a move will influence Canada's decision whether or not to allow Potash to be taken out by BHP Billiton. Potash believes the $39 Billion offer is much too low so they are doing everything in their power to keep BHP away.

BHP tried to win over the Canadian government by claiming it would raise families and pay taxes in Saskatchewan. However, Potash still remains strictly against the takeover and is awaiting a much bigger and better offer from someone else.