Potash a hot commodity
When Canadian fertilizers mining leader PotashCorp formally rejected Australia-headquartered resources major BHP Billiton’s $130-per-share, $39 billion takeover bid last week, expectations were triggered that multiple higher bids would emerge from some combination of players. Leading opportunistic PRC multi-strategy investor Hopu Investment Management is apparently considering a consortium bid with other members from Asia as well as Western markets, and two SWFs, with the China Investment Corporation (CIC) cited as one probable participant. China’s Sinochem is also mentioned as a possible suitor for the company, as is Brazil’s Vale. In the meantime, BHP has also opted to go the hostile route.
Potash chief executive Bill Doyle said in a widely publicized statement: "PotashCorp has been approached by, and has initiated contact with, a number of third parties who have expressed an interest in...
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