BHP Billiton Extends Potash Offer
NEW YORK (
) --
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
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
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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