Deals
BHP Shares Gain After Canada Blocks Potash Corp. Bid
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BHP Billiton Ltd., the world’s largest mining company, rose to the highest in almost six months in Sydney trading after Canada blocked its $40 billion hostile takeover bid for Potash Corp. of Saskatchewan Inc.
Shares in the Melbourne-based company rose 2.6 percent to A$43.72 at the 4:10 p.m. local time close on the Australian stock exchange. That’s the highest since April 15. BHP is disappointed and will review its options, the company said today in a statement. It has 30 days to lodge an appeal.