Friday, October 29, 2010

BHP's (NYSE:BHP) Bid for Potash (NYSE:POT) to be Ruled on Soon by Canada

BHP Billiton (NYSE:BHP) and Potash Corp (NYSE:POT) will find out very soon whether or not the bid from BHP to take over the giant fertilizer company will be allowed to go forward by the Canadian government.

Prime Minister Stephen Harper reiterated Thursday it ruling will happen very soon. That points to the confirmation they won't attempt to extend the process by another 30 days. The ruling will thus be made on November 3.

Pressure to make the decision based on politics was set aside by Harper, who asserted it will be based on a fair evaluation of the overall deal.

The province of Saskatchewan has opposed the deal from the beginning, but some opposition to that has risen, with some starting to ask questions on why the BHP bid wouldn't be good for the country when one including the Chinese would be.

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