BHP clears first hurdle in Potash takeover bid

first_img Show Comments ▼ whatsapp John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Friday 24 September 2010 3:42 am Sharecenter_img whatsapp Tags: NULL BHP clears first hurdle in Potash takeover bid BHP Billiton cleared the first regulatory hurdle in its bid for Canada’s Potash but the miner still has a long way to go to pass the deal with Canadian authorities and the target’s shareholders.BHP, the world’s largest mining company, said it received antitrust clearance from the US Federal Trade Commission to proceed with its $39bn (£26bn) hostile bid for the world’s largest fertilizer maker.However, BHP’s offer is still contingent on other regulatory approvals. The bid is likely to face much tougher scrutiny in Canada, where the country’s competition watchdog has already requested additional information.On Friday, investors and analysts said Potash’s shareholders were the biggest obstacle to the deal.“At the end of the day it is up to the shareholders and the buck stops with them if it even gets that far. At the moment shareholders are saying it is not enough,” DJ Carmichael analyst James Wilson said.Last month, BHP launched its hostile $130-a-share offer to acquire Potash. The Saskatoon, Saskatchewan-based company flatly rejected the bid as “grossly inadequate” and has filed a lawsuit against BHP in an attempt to stymie a takeover.Potash’s US-listed shares ended at $145.4, an 11.8 per cent premium to BHP’s offer, suggesting investors anticipate a higher bid.Analysts expect a competing bid to involve a Chinese entity such as Sinochem, which has hired two investment banks to advise it on options. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comlast_img

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