Deals
Flaherty Says BHP Bid Shows Need for Canada Regulator
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Canadian Finance Minister Jim Flaherty today said BHP Billiton Ltd.’s bid for Potash Corp. of Saskatchewan Inc. shows the need for a national securities regulator.
The bid is “yet another example of the usefulness for Canada of a national securities regulator with a high degree of expertise that is able to deal with global companies bidding on companies that have substantial assets in Canada,” Flaherty told reporters in Dublin during a three-day visit to Ireland. BHP last week launched a $40 billion hostile takeover offer for Potash.