BHP Billiton Extends Potash Offer

BHP Billiton has extended its hostile $130 cash offer for Potash Corp. of Saskatchewan through Nov. 18.
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NEW YORK (

TheStreet

) --

BHP Billiton

(BHP) - Get Report

late Monday extended its $130 per share cash offer for

Potash Corp.

(POT)

through Nov. 18.

The extension is related to BHP Billiton's receipt on Monday of an information request from Canadian antitrust authorities. The company said it plans to comply "expeditiously" to the request.

>>>Potash vs. BHP: The Fertilizer War From A to Z

BHP also added in

its statement

that it's "confident" that the offer, which Potash has rejected and BHP Billiton has since begun a hostile tender in relation to, will receive all necessary regulatory approvals in due course.

Potash shares closed Monday at $148.47, up 0.81%. Earlier on Monday, a report

surfaced

that

Sinochem

the Chinese state-controlled chemical-industrial concern, is petitioning China's government to back a white-knight bid for Potash.

Shares of BHP Billiton finished Monday's session at $73.93, up almost 2%. The stock is down 5.3% year-to-date.

--

Written by Michael Baron in New York.

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Michael Baron

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