BHP Billiton had eyes on Potash as early as 2006, documents show

New details surface in court


 

BHP Billiton Ltd. laid eyes on Potash Corp. of Saskatchewan Inc. well before it launched its US $38.6-billion hostile bid earlier this year, court documents show. Evidence emerging from the lawsuit Potash Corp. filed against BHP in a U.S. District Court in Illinois last month includes an internal recommendation that the Australian miner buy the Canadian potash producer dated as early as 2006, when Potash Corp. was valued at US$ 13 billion. The Saskatchewan-based company is using the documents to build its case that BHP misled investors on both its takeover offer and its plans for entering the potash business. BHP denies the allegations, and released a statement calling the lawsuit “entirely without merit.”

Globe and Mail


 
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BHP Billiton had eyes on Potash as early as 2006, documents show

  1. I fail to see why this, if true, is considered startling news. A company doesn't make a $38 billion dollar decision overnight. The company I spent most of my life working for took longer than that to decide on which computer operating system they should buy, and still got it wrong.