NEW YORK (TheStreet) -- BHP Billiton received approval from the U.S. Federal Trade Commission to move ahead with its attempt to subsume Potash -- the first but mostly like the easiest regulatory endorsement the company must obtain in order to complete the deal.
This comes two days after Potash sued BHP in U.S. federal court in an effort to block the hostile takeover bid.
The stiffest regulatory tests for BHP still lie ahead, in the Great White North. BHP must receive the imprimatur of Canada's Competition Bureau in Ottawa, which will look to Saskatchewan for much of its guidance in the matter.
To that end, BHP CEO Marius Kloppers has been jetting around Canada of late, making visits to Saskatchewan and Ottawa in order to lobby politicians and other functionaries.Whether or not a white knight emerges to compete with BHP for Potash, it's almost universally believed that the Anglo-Australian miner will need to raise its offer above the $130 a share (or $39 billion) that's on the table now. -- Written by Scott Eden in New York
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV