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K+S’s Enlarged Free Float May Fuel Takeover Speculation

K+S AG may be more exposed to takeover speculation after BASF SE’s sale of its stake increased the German potash maker’s freely traded shares, according to Michael Schaefer, an analyst at Equinet Bank.

The proportion of K+S stock available on the market may total 88 percent following BASF’s departure and a recent reduction in the largest stake, owned by Andrei Melnichenko and his Russian fertilizer group EuroChem, to an estimated 12 percent, Schaefer said in an e-mail to clients.