New York/Frankfurt | Reuters –– PotashCorp said Monday it had withdrawn its 7.9 billion euro (C$11.6 billion) offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management. K+S shares dropped 24 per cent after Potash announced its decision in a statement, wiping […] Read more
Tag Archives potashcorp — page 5

PotashCorp withdraws takeover bid for K+S

Liberals, NDP say would clarify foreign takeover rules
Winnipeg | Reuters –– Canada’s Liberal and New Democratic parties, vying to replace the governing Conservatives in a tight three-way election race, both say they would clarify rules around foreign corporate takeovers if they win. Liberal leader Justin Trudeau, campaigning in Winnipeg on Tuesday, said foreign investors need clearer rules around takeovers. “(Conservative Prime Minister […] Read more

PotashCorp says not actively discussing K+S takeover
Reuters — PotashCorp is not actively discussing its takeover proposal with Germany’s K+S, but remains interested in a combination of fertilizer producers that would aid North American potash sales and offer new access to Europe, CEO Jochen Tilk said Wednesday. PotashCorp’s standing offer of 7.9 billion euros (C$11.75 billion) or 41 euros per share is […] Read more

K+S says Legacy supply deal highlights independence
Frankfurt | Reuters –– Germany’s K+S signed a supply deal for potash fertilizer from its Legacy mine in Canada, saying the agreement strengthened its position as an independent supplier as it battles an unwanted takeover bid from Canada’s PotashCorp. The salt and fertilizer producer said it had agreed an exclusive deal to supply Koch Fertilizer […] Read more

K+S says retail shareholders back rejecting PotashCorp
Frankfurt | Reuters –– German salt and fertilizer company K+S AG says a survey of its retail investors shows they strongly support its rejection of a 7.9 billion euros (C$11.4 billion) takeover offer from Canada’s PotashCorp. K+S said on Monday it had surveyed retail, or non-institutional, shareholders, who hold about 30 per cent of its […] Read more

K+S rejects PotashCorp offer, promises on German mines
Frankfurt | Reuters — German salt and fertilizer company K+S AG once again rejected PotashCorp’s takeover offer Friday, saying the Canadian company’s assurances about maintaining jobs and mine sites in Germany were unreliable. Saskatoon-based PotashCorp sent an unsolicited letter to K+S’s management and supervisory boards, K+S said in a statement. The letter included a proposal […] Read more

K+S investors see PotashCorp deal within reach despite rebuff
Frankfurt | Reuters — Shareholders in takeover target K+S say a deal could be done because suitor PotashCorp’s main aim is to get control over its German rival’s ambitious Canadian project and scale it back. K+S’s Legacy mine, being built northeast of Moose Jaw near Bethune, Sask., would be the first built from scratch in […] Read more

PotashCorp not planning to increase K+S bid
Reuters — Canada’s PotashCorp does not plan to sweeten its bid for German rival K+S AG, several people familiar with the Canadian mineral miner said, downplaying a media report that it would consider such a move. The proposed bid of 41 euros (C$58) per share already represented an unusually high premium and should not be […] Read more

PotashCorp says can address K+S concerns about tie-up
Frankfurt | Reuters — Canada’s PotashCorp said it was confident of addressing concerns raised by K+S over its 7.9 billion euro (C$11 billion) takeover proposal for the German potash miner, giving K+S’s stock a boost. K+S rejected PotashCorp’s proposed bid as too low on Thursday, saying its suitor could be planning to dismantle and shrink […] Read more

K+S rejects PotashCorp takeover offer as too low
Frankfurt | Reuters –– German potash miner K+S rejected PotashCorp’s 7.9 billion-euro (C$11 billion) takeover bid Thursday, saying it was too low and the Canadian suitor could be planning to dismantle the company, putting jobs at risk. K+S, owner of the Morton Salt brand, said the proposal lacked firm commitments to protect the more than […] Read more