BHP To Snag Athabasca Potash For $320M

Law360, New York (January 28, 2010, 7:30 PM EST) -- Mining giant BHP Billiton Ltd. revealed a plan Thursday to shell out $320 million for Canada's Athabasca Potash Inc., which holds one of the largest exploration permit areas in the Saskatchewan basin.

BHP's Canadian unit, BHP Billiton Canada Inc., said the all-cash deal will help further its strategy of building its position in the potash-infused Canadian province of Saskatchewan, where API is based.

BHP Billiton Diamonds & Specialty Products President Graham Kerr said the acquisition fit well with the company's existing projects.

“Today's announcement is consistent...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.