Reuters New York alone with details of Potash Corp meetings with investors
09.14.2010
Reuters exclusively reported on Sept 14 that Potash Corp was not considering selling a large stake in the company to block BHP Corps $39 billion hostile bid. The news meant that China or other rival bidders would likely have to consider a full takeover of Potash Corp, or look to acquire a blocking stake from the public market if they want to scupper BHPs offer. China, which typically buys about 7 percent of the output of Potash Corp, fears a BHP takeover might jeopardize supplies it will require to feed its huge population in coming years. Reuters also reported exclusively that Potash was not interested in offering production-sharing agreements or sales of potash mines to potential partners against BHP. The news came from investor sources who had recently met with the Canadian fertilizer company`s chief financial officer. The Reuters report was picked up by various news outlets, including CNBC.