PotashCorp Comments On Investment Canada Decision

Potash Corp. of Saskatchewan Inc. (PotashCorp) has issued the following statement in response to the announcement made by the Honourable Tony Clement, Minister of Industry:

PotashCorp notes the announcement made today by the Honourable Tony Clement, Minister of Industry, stating that BHP Billiton Limited’s (ASX: BHP; LSE: BLT; NYSE: BHP) (BHP Billiton) unsolicited offer for PotashCorp is not likely to be of net benefit to Canada within the meaning of the Investment Canada Act. The announcement further states that the Minister has advised BHP Billiton of its right to make additional representations under the Investment Canada Act within 30 days from today or such further period as agreed by the Minister and BHP Billiton.

The Minister of Industry’s announcement does nothing to change our view that the BHP Billiton $130 per share offer is wholly inadequate. The PotashCorp Board of Directors strongly believes that the offer fails to reflect both the value of PotashCorp’s premier position in a strategically vital industry and the company’s future growth prospects.

PotashCorp reminds its shareholders that the PotashCorp Board of Directors recommends that shareholders reject the BHP Billiton unsolicited offer and not tender their shares into the offer. The PotashCorp Board believes that the offer is not in the best interests of the company, its shareholders or other stakeholders.

Leave a Reply

Latest News
ASMARK 2016 Retailers Live! Tour - CPS
CropLife 100CPS Acquires Texas Retail Operation
August 23, 2016
Crop Production Services (CPS) has acquired the assets of Larry’s Chemical and Spray, Inc., for an undisclosed amount in an Read More
PrecisionAg Video Conference
Precision AgVideo: PrecisionAg Vision Conference
August 22, 2016
A Strategic Conference Focused on the Future of Farm Digitization and Precision Agriculture Visit precisionagvision.com and register today! Read More
Young Corn Plants
Industry NewsOABA Welcomes Nicole Wallace As Communication & Adm…
August 22, 2016
The Ohio AgriBusiness Association has hired Nicole Wallace as its communication and administrative coordinator. Wallace will help provide comprehensive communication Read More
Syngenta Sign
Crop InputsChemChina, Syngenta Receive Clearance From CFIUS
August 22, 2016
China National Chemical Corp. (ChemChina) and Syngenta have announced that the companies have received clearance on their proposed transaction from the Read More
ManagementAg Industry Shows and Rumors
August 18, 2016
Editors Paul Schrimpf and Eric Sfiligoj talk about the upcoming trade show schedule, crop protection merger updates, and content for Read More
MAGIE 2015
EquipmentMAGIE Takes The Pulse Of The Ag Retail Industry
August 18, 2016
Every year, one of the major highlights of my career as an ag journalist is attending the Midwest AG Industries Read More
MAGIE 2015 Overview
EquipmentPride In Professionalism On Display At MAGIE
August 18, 2016
The Illinois Fertilizer & Chemical Association (IFCA) is proud to partner with CropLife IRON and continue the tradition of bringing Read More
SprayersJenner Ag To Debut 25th Anniversary Edition Case IH Pat…
August 18, 2016
Visitors at the 2016 Midwest Ag Industries Exhibition (MAGIE) in Bloomington, IL, will have a unique photo opportunity, as Jenner Read More
Crop InputsEU Glyphosate Controversy Heating Up Yet Again
August 17, 2016
The battle over glyphosate rages on in Europe, creating a lot of question marks over whether the herbicide will continue Read More
Industry NewsNew Partnership Provides Improved Representation At Ohi…
August 16, 2016
The Ohio AgriBusiness Association (OABA) has retained Belinda Jones of Capitol Consulting Group, Inc. (CCG) for government relations work in Read More
Tissue testing
FertilizerMosaic: 6 Tips For Better Crop Nutrition In Corn
August 16, 2016
Late in the crop season is a good time to assess visual nutrient deficiencies and ensure early- and mid-season deficiencies Read More
WebinarsWebinar Schedule
August 14, 2016
Register for one of our upcoming Webinars or access our archive of past Webinars to view recordings of presentations that may be of interest to you. Read More
Dow DuPont
Crop InputsDowDuPont Update: EU Takes Closer Look at Merger
August 12, 2016
Dow Chemical Co. and DuPont Co. face months of haggling with European Union antitrust regulators who opened an in-depth probe Read More
ManagementNews from InfoAg 2016 and Weed Wands
August 11, 2016
Editors Paul Schrimpf and Eric Sfiligoj review what happened at last week’s big Precision Ag event and a possible solution Read More
Crop InputsFBN: We’re ‘Here To Stay’
August 11, 2016
PERSPECTIVE — If you’ve been following this site for a while you might remember a certain editorial we published on Read More
Diversified Agri-Services
StewardshipDiversified Agri-Services Certified In 4R Nutrient Stew…
August 11, 2016
The 4R Nutrient Stewardship Certification Program has announced that Diversified Agri-Services Inc. in McCutchenville, OH, has been added to its growing Read More
Soil
FertilizerSoil Health Experts Gain Ground On Standardized Measure…
August 11, 2016
Soil health experts from across North America plan to integrate more research projects to provide agricultural producers and policy makers Read More
Regulator 3.0 Concentrate
AdjuvantsNew Max Systems Product Aids Irrigation
August 11, 2016
A gentle rainfall is nearly always welcomed by crop producers, including those who rely on irrigation to produce a profitable Read More