Deals
Potash Corp. Bid Proposed by Russia to Counter BHP
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Russia asked local fertilizer makers to consider a joint bid for Potash Corp. of Saskatchewan Inc., countering a $40 billion offer from BHP Billiton Ltd., according to OAO Acron, the nation’s third-largest producer of nitrogen soil nutrients.
Acron told the government it wouldn’t join the plan after receiving a letter from the Industry and Trade Ministry on Nov. 1 proposing a combined bid, Chairman Alexander Popov said today by telephone in Moscow. Artur Gimatdinov, a ministry spokesman, wasn’t immediately able to comment when contacted by Bloomberg.