Deals
Potash Corp.'s K+S Bid Helped by Commodity Slide, Analysts Say
- Shares of K+S have fallen since it rejected June takeover bid
- Potash spot prices lower amid weaker agricultural demand
This article is for subscribers only.
Potash Corp. of Saskatchewan’s 7.85 billion-euro ($8.77 billion) proposal to acquire its largest European competitor is more attractive after price declines in the Canadian company’s namesake crop nutrient, according to two analysts.
Potash Corp.’s cash offer made in June was rejected by K+S AG of Germany as too low. Since then, spot prices for potash in the U.S. have dropped 12 percent and there have been forecasts for further declines on the export market. On Monday, Mosaic Co., the largest U.S. producer, said it was cutting output and blamed weaker demand.