Russian fertilizaer company Phsoagro wants a piece of the action as it plans to make a competing offer for Canada's potash giant Potash Corp. Vladimir Litvinenko, Phosagro Chairman, has requested from Vladamir Putin approve a potential bid for the company and asked for permission to raise financing from Russian banks. Wall street analysts are excited that this will create a bidding war sending the price of Potash Corp soaring higher. Andy Kibbens (Co-CEO of The Markets Are Open) said in an interview Wednesday morning that "I was expecting some sort of bidding war, but nothing is going to happen until Ottawa announces its decision later today".
It is clear that the Russian company is waiting for Ottawa's ruling before proceeding any further. However, some analysts are saying that Phosagro doesn't have nearly enough buying power to make a competing offer for Potash (NYSE:POT). In fact, the company would likely have to merge with other fertilizer companies such as Urakali and Silvinit in order to get enough buying power to make any offer worthwhile said Mikhail Stiskin.
Phosagro is a privately owned fertilizer company in Russia producing crop nutrients.
