Deals
Potash Drops on Speculation Canada Will Block Bid
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Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer company, dropped the most in four months in New York on speculation the Canadian government will block BHP Billiton Ltd.’s $40 billion hostile takeover offer.
Potash Corp. fell $4.79, 3.3 percent to $142.53 at 4:15 p.m. in New York Stock Exchange composite trading, the most since June 29. The government is becoming more skeptical of Melbourne-based BHP’s $130-a-share offer and Industry Minister Tony Clement is being swayed by comments from Saskatchewan Premier Brad Wall, who opposes the offer, the Globe and Mail reported, citing unidentified people.