first_img Potash plans break up to avoid BHP bid whatsapp whatsapp POTASHCORP, the Canadian chemicals giant, is believed to be working on a potential break up of the company as one way of fending off a $38.6bn (£24.1bn) hostile bid from the mining company BHP Billiton.The plan is among several strategies being worked on at Potash – whose advisers include RBC Capital Markets, Goldman Sachs and Bank of America Merrill Lynch – ahead of the deadline for BHP’s $130-a-share bid of 18 November.Another strategy is for a counterbid to emerge from the Ontario Teachers Pension Fund (OTPP), which is believed to have already approached Singapore’s state investment agency Temasek, as part of a search for partners to bid for all or part of PotashCorp.The OTPP is reported to have opened preliminary talks with Temasek, although discussions are at a very early stage.Sinochem, the Chinese state-owned chemicals and fertilisers company, is believed to have approached Temasek last week. But Sinochem appears to be struggling to mount an effective counterbid. Its chances have also narrowed since a Canadian government-sponsored report advised of the dangers of Potashcorp falling into the hands of a state-owned Chinese company.Talks are also thought to have included mining companies and fellow members of the Canpotex cartel – which control the price of potash outside North America. Such attempts are thought to have received strong support from the Canadian GovernmentBut almost two months after BHP first revealed its $130-a-share all-cash bid, a genuine counterbid for the company has yet to emerge.PotashCorp has rejected the BHP offer as “wholly inadequate. BHP has also held a series of talks with Potash’s closest competitors about major asset disposals. These include fellow Canadian Agrium, Norwegian company Yara, Mosaic – a subsidiary of US food giant Cargill – and little-known Russian players Silvinit and Uralkali, to sell the non-Potash parts of its business. According to sources, this could raise between $40 to $50 per share. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Show Comments ▼center_img KCS-content Share Sunday 10 October 2010 11:50 pm Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Tags: NULLlast_img

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