Category archives for: Finance

White knight needed by Potash

White knight needed by Potash

As BHP Billiton formally launched it $39-billion hostile offer for Potash Corp. of Saskatchewan, the world’s largest fertilizer firm searched for a white knight on Friday. Sources say that Potash is soliciting alternative bidders willing to pay more than the $130 a share offered by BHP, the world’s largest mining company. The BHP bid has […]

Citigroup: BHP buyback better for investors than Potash deal

Citigroup: BHP buyback better for investors than Potash deal

Citigroup Inc. said that BHP Billiton Ltd. investors would get higher free cash flow per share from a stock buyback than the company’s proposed acquisition of Potash Corp. of Saskatchewan Inc. In a report Friday, Citigroup analysts led by Heath R. Jansen in London said that compared with BHP’s current hostile bid of $130, buying […]

Potash Corp. may not seek Chinese rescue

Potash Corp. may not seek Chinese rescue

An analyst at Beijing Orient Agribusiness Consultant Co. said that Potash Corp. of Saskatchewan Inc.—the world’s largest fertilizer producer—probably doesn’t want China to win control in a takeover war with BHP Billiton Ltd. Xu Hongzhi, a Beijing-based analyst, said by phone, “China’s potash demand will be more substantial in the long run than that of […]

Potash to counter BHP offer

Potash to counter BHP offer

According to a report Friday, Canada’s Potash Corp. of Saskatchewan Inc. is considering alliances with global companies that could put together a competing offer to Anglo-Australian miner BHP Billiton’s hostile $38.6 billion bid for the fertilizer giant. Citing people familiar with the matter, The Wall Street Journal reported that sovereign wealth funds, Chinese banks, and […]

Canadian dollar boosted by Potash bid

Canadian dollar boosted by Potash bid

Supported by BHP Billiton’s takeover bid for Canada’s Potash Corp., the Canadian dollar rallied against its US counterpart for a second day on Wednesday. A day after Potash’s board rejected the $39 billion takeover offer—the largest so far this year—as “grossly inadequate,” BHP took it directly to shareholders on Wednesday. Since a successful offer from […]

RIM faces uphill battle in BlackBerry Torch 9800

RIM faces uphill battle in BlackBerry Torch 9800

According to two analysts, Research In Motion (RIM) sold an estimated 150,000 BlackBerry Torch 9800 smartphones during its first weekend in release. It could represent a setback in RIM’s battle against Google Android and the Apple iPhone for market-share if that number holds. New sales estimates may leave RIM disappointed if the company hoped its […]

BHP Billiton wants to take over Potash

BHP Billiton wants to take over Potash

On Wednesday, the world’s largest mining company, BHP Billiton, said that it would take its nearly $40 billion cash offer for the Potash Corporation of Saskatchewan directly to the shareholders, a day after the Canadian fertilizer company rejected the bid. BHP’s appeal to Potash shareholders came after the mining company’s shares fell more than 4 […]

Wells Fargo ordered to pay back $203M in fees

Wells Fargo ordered to pay back $203M in fees

Wells Fargo & Co. was ordered by a federal judge in California to change what he called “unfair and deceptive business practices” that led customers into paying multiple overdraft fees, and to pay $203 million back to customers. US District Judge William Alsup, in a decision handed down late Tuesday, accused Wells Fargo of “profiteering” […]