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MERGER: BHP Billiton considering options

MELBOURNE, Australia - BHP Billiton is considering its options after its $40-billion offer for Potash Corporat...


MELBOURNE, Australia – BHP Billiton is considering its options after its $40-billion offer for Potash Corporation of Saskatchewan was rejected by the Canadian government. Industry Minister Tony Clement made the announcement on Nov. 3, 2010, saying that the proposal failed the “net benefits” test as outlined by the government. The company has an initial period of 30 days in which to make further representations to the government.

“BHP Billiton is disappointed, but continues to believe that the offer is of net benefit to Saskatchewan, New Brunswick and Canada. BHP Billiton will continue to co-operate with the minister and the Investment Review Division of Industry Canada and will review its options,” the company said in a press release following the announcement.

More information can be found at www.BHPBilliton.com.


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2 Comments » for MERGER: BHP Billiton considering options
  1. Louis Lavallée says:

    Potash as our one of the most important natural ressource in Canada (53% world reserve) should be proptected as our natural water, oil, natural gas, hydro power,farm lands, culture & french language as our strategic national’s interest. The canadian wheat (Canada 3rd world wheat producer) & farm industries who depand of our regular potash market price fairly controlled by the canadian people and not by foreign headquarters located in Melbourne AU London UK who serve first only the interest of their shareholders. So now in Canada most of the politicians leader our behind the people and all the nation wide think we should keep our natural ressource potash ownership at 51% by Canadian people ownership with the headquarter in Regina SA. Canada and keep our mines open & expansion mines industry with the jobs for Canadians & strong share royalties for Saskatchewan in the national interest of the canadian people who always respected the strategic interest of all or international trade partners.
    Louis Lavallée, Painter Entrepreneur
    Vancouver BC. Canada

  2. Reader12 says:

    Mr. Lavallee,

    There is no one else offering besides BHP in the private industry with the cash clout and mining experience to make this work. If somehow a crown corporation is formed to manage it, all costs associated will artificially drive the price of potash up in addition to great taxpayer expense. The mine isn’t going anywhere and BHP is a solid company with excellent training, compensation, safety and health benefits.

    BHP has already spent millions in cash on local businesses/service providers to manage their Ekati Mine, construct/manage their new corporate installations in Saskatoon and their recent development at Jansen, SK.
    They are an excellent mining partner second to none.

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