Banks drag FTSE down as concerns over US recovery harms sentiment September 22, 2010 BRITAIN’S top shares fell yesterday, led by banks as worries over the economic recovery in the US and lack of action taken by the Federal Reserve hit sentiment, offsetting gains in miners. The FTSE 100 ended down 24.28 points or 0.4 per cent at 5,551.91, after falling 0.5 per cent on Tuesday. The US central [...]
PotashCorp sues BHP over hostile offer September 22, 2010 CANADIAN fertiliser firm PotashCorp yesterday buttressed its defences against BHP Billiton’s hostile $39bn (£24.9bn) bid, filing a lawsuit against the miner in an Illinois federal court. The suit came as BHP’s chief executive Marius Kloppers faced the scrutiny of investors over his $11.3m paycheque for the past financial year – a 9 per cent increase [...]
Sinochem hires banks as it eyes rival bid for Potash September 22, 2010 China’s Sinochem Corp has hired investment banks to look at toppling BHP Billiton’s $39bn (£24bn) bid for Potash Corp, sources said, as the miner warned it would not be caught in an expensive bidding war for the world’s largest fertiliser group. State-owned chemicals group Sinochem has hired Deutsche Bank and Citigroup to evaluate measures to [...]
Canada forces BHP to extend Potash offer September 21, 2010 MINER BHP Billiton was yesterday forced to extend the deadline for its offer for Canada’s PotashCorp by a month to comply with regulatory requests for extra information. PotashCorp investors now have until 18 November to accept, though analysts at Citigroup warned shareholders may prove unwilling to sell up unless BHP raises its $130-per-share offer – [...]
BHP Billiton’s Potash bid stalled by Canadian authorities September 21, 2010 HP Billiton’s $39bn (£25bn) battle to take control of Canada’s Potash Corp is expected to drag on into next year after it failed to win immediate backing from Canadian authorities. The Anglo-Australian miner, which wants to use the world’s largest fertiliser-maker as its entry into the global food industry, also said it had no plan [...]
BHP will stick to $39bn bid for Potash September 20, 2010 BHP Billiton chief executive Marius Kloppers said yesterday the company has no intention of changing its $39bn (£25bn) takeover offer for Potash, the world’s biggest fertiliser producer. During a visit to the home base of its takeover target intended to build political support in Canada, Kloppers brushed aside rumours that China, through its state-owned companies, [...]
PotashCorp mulls Chinese consortium bid to rival BHP September 16, 2010 CANADA’S PotashCorp has approached a number of parties in China over putting together a consortium to counter miner BHP Billiton’s $39bn (£25bn) hostile takeover bid. PotashCorp, which has made no secret of its attempts to woo white knight bidders since it rejected BHP’s approach last month, is understood to have considered combining a large capital [...]
Potash claims rivals will bid September 14, 2010 FERTILISER company Potash Corp is not considering a large stake sale to a third party or long-term production sharing agreements as serious options to block a sale to BHP Billiton, investors who met with the company said yesterday. Potash Corp chief financial officer Wayne Brownlee was in New York meeting with investors on Monday and [...]
CAR TALK September 14, 2010 LEXUS HATCHBACK GOES ZERO CARBON Emissions are now officially the new battleground. Lexus has announced that its new CT 200h compact hatchback will have emissions as low as 96g/km of CO2 – beating the magical sub-100g/km figure – thanks to its full hybrid powertrain. This means road tax will be zero when the car goes [...]
Fertiliser giant Potash has received several rival bids September 13, 2010 THE world’s biggest fertiliser producer yesterday added a new twist to its hostile takeover saga by confirming it has been approached by several rival bidders. Potash is desperately trying to see off a $39bn (£25bn) hostile takeover bid by BHP Billiton. The Canadian firm has said it would prefer to remain independent but has told [...]