Posted in | News | Potash

BHP Billiton Bid for Potash Corp Comes Under Government Scrutiny

BHP Billiton's hostile takeover bid for Potash Corporation of Saskatchewan has run into its first major hurdle. The $38.6 billion deal is the focus of a key report that the Canadian government is to receive this week.

The report by an independent think tank is based on the economic impact of the sale. It will analyse if the sale will benefit the province or not. The findings of this report will be binding on any judgement given by the federal government of Canada on allowing the takeover to proceed.

BHP Billiton and Potash Corp are already at logger heads over a court action initiated by Potash Corp against BHP Billiton accusing the largest miner in the world of providing false and misleading statements in order to bring down the company's share price value. Many experts saw this as a bid to hold off the BHP Billiton takeover bid till China could respond with its own bid.

Unfortunately Sinochem, the Chinese state backed chemical company has been unable to assemble a consortium which would be able to offer for Potash Corp and become its white knight. Analysts say that Beijing is unable to decide if the deal is important enough.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    BHP Billiton Plc. (2019, March 19). BHP Billiton Bid for Potash Corp Comes Under Government Scrutiny. AZoMining. Retrieved on April 21, 2024 from https://www.azomining.com/News.aspx?newsID=399.

  • MLA

    BHP Billiton Plc. "BHP Billiton Bid for Potash Corp Comes Under Government Scrutiny". AZoMining. 21 April 2024. <https://www.azomining.com/News.aspx?newsID=399>.

  • Chicago

    BHP Billiton Plc. "BHP Billiton Bid for Potash Corp Comes Under Government Scrutiny". AZoMining. https://www.azomining.com/News.aspx?newsID=399. (accessed April 21, 2024).

  • Harvard

    BHP Billiton Plc. 2019. BHP Billiton Bid for Potash Corp Comes Under Government Scrutiny. AZoMining, viewed 21 April 2024, https://www.azomining.com/News.aspx?newsID=399.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.