Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

BHP Withdraws PotashCorp Offer

by Alexander H. Tullo
November 22, 2010 | A version of this story appeared in Volume 88, Issue 47

BHP Billiton has canceled its $39 billion hostile takeover of PotashCorp. The Canadian industry ministry, arguing that the acquisition would not be a net benefit to Canada, had put a preliminary block on the acquisition earlier this month. In its announcement, BHP gave a litany of reasons why it thought the acquisition would have been good for Canada, including $450 million in additional spending on potash exploration and development, a pledge to remain in Canada’s potash cartel Canpotex for five years, and keeping the headquarters of its global potash operations in Saskatchewan. In the wake of BHP’s decision, PotashCorp said in a statement that it is “excited about the future.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.