| German minister backs K+S's Potash bid rejection | |
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FRANKFURT, July 4 (Reuters) - A German regional minister gave his backing to potash miner K+S's rejection of an $8.8 billion-euro takeover bid by Canada's Potash Corp of Saskatchewan, saying K+S should remain a German company. It also has a Canadian mining project called "Legacy", the first new mine in the potash industry in almost 40 years, which is due to start producing by the end of 2016 amid growing capacity and competition among sellers. Analysts believe Potash may want to slow the development of Legacy or close mines in Germany, where costs are higher, to prevent more potash coming onto the market. Potash says its proposal is not based on closing mines or cutting jobs. Al-Wazir's statement came after he met K+S's human resources head and its local works council chief. K+S HR chief Thomas Noecker said: "We want domestic mining and the domestic production of vital mineral nutrients to remain possible and secure for the coming decades. We must reject initiatives that do not serve this interest, in our view." ($1 = 0.8999 euros) (Reporting by Patricia Weiss; writing by Georgina Prodhan; editing by Clelia Oziel)
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Potash Corporation of Saskatchewan Inc.
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CODE : POT.TO |
ISIN : CA73755L1076 |
CUSIP : 73755L1076 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Potash Corp. est une société de production minière basée au Canada. Potash Corp. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 21,7 milliards CA$ (17,2 milliards US$, 14,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 24 mars 1995 à 10,00 CA$, et son plus haut niveau récent le 21 septembre 2007 à 99,07 CA$. Potash Corp. possède 840 009 984 actions en circulation. |