Deals
Sinochem Drops Plans for Rival Potash Offer, Reuters Reports
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Sinochem Group has walked away from attempts to put together a takeover offer for Potash Corp. of Saskatchewan Inc., Reuters reported, citing sources with knowledge of the matter that it didn’t identify.
Efforts to put together a deal to counter BHP Billiton Ltd.’s hostile bid had finished, Reuters cited one of the people as saying. A spokesman for Sinochem, which has never publicly stated its intention to bid for Potash Corp., declined to comment, Reuters said.