Saskatchewan To Fight BHP's $39B PotashCorp Bid

Law360, New York (October 20, 2010, 12:41 PM EDT) -- BHP Billiton Ltd. has failed to win the support of the government of Saskatchewan in its $38.6 billion hostile takeover bid for fertilizer giant Potash Corp. of Saskatchewan Inc.

The provincial government is expected to officially announce its opposition to the proposed deal Thursday. In a statement Tuesday, the government said BHP needed to up its offer in order to mitigate the $3 billion in revenue the government anticipated losing over the next 10 years if the merger were to go through.

“This would need to...
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