PotashCorp Goes To Court To Block $40B BHP Bid

Law360, New York (September 22, 2010, 2:38 PM EDT) -- Canadian fertilizer giant Potash Corp. of Saskatchewan Inc. petitioned a federal court Wednesday to block a $40 billion hostile takeover attempt by Australia’s BHP Billiton Ltd., which it accuses of attempting to drive down its value with empty threats to enter the market for potash.

Potash asked the U.S. District Court for the Northern District of Illinois to impose an injunction on BHP Billiton to halt its “attempt to wrest majority control from PCS shareholders in a coercive $40 billion hostile tender offer,” the company said....
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