Deals
Canadian Stocks Rise After Potash Corp. Rejects BHP Takeover
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Canadian stocks rose the most in almost six weeks after Potash Corp. of Saskatchewan Inc. rejected an unsolicited $39 billion takeover offer from BHP Billiton Ltd. and the U.S. reported increases in industrial production and producer prices.
Potash Corp., the world’s largest fertilizer producer, surged 26 percent, exceeding the BHP offer as investors speculated a higher bid will ensue. Teck Resources Ltd., Canada’s biggest base-metals and coal producer, gained 6.2 percent as copper futures in New York advanced the most in a week. Canadian Natural Resources Ltd., the country’s second-largest energy company by market value, rallied 2.5 percent as oil rose for the first time in six days.