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 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 […]
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 […]
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 […]
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 […]
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 […]
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 & 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” […]
