The UK's Sunday Times reported that BHP could be ready to increase its bid for Potash by as much as 10%. When asked, BHP declined such a statement saying there are no other bids on the table, why would we increase our bid? Andy Kibbens (Co-CEO of TheMarketsAreOpen) was outraged that the UK's Sunday Times would publish such a statement. He added "You must be able to filter the truth from the untruth as rumors spread across the internet so quickly these days. There's no reason for Potash to raise their bid ahead of the ruling. It just doesn't make sense.". A london based shareholder, one of the top 10 Potash shareholders, had commented that "we could live with a 10% bid increase, but anything higher than that would destroy value".
Ottawa is due to announce on November 3rd whether they think BHP's bid for Potash Corp will be in Canada's best interest or not. On November 4th, the U.S. court is due to hear Potash's call and may stall BHP's bid if it so decides.
Finally, on November 8-9th, Saskatchewan is set to hear BHP's challenge to Potash's poison pill. BHP wants to suspend the shareholder's rights plan while Potash shareholders want it extended.
