BHP’s Potash bid faces pressure from Canadian province

BHP Billiton (NYSE:BHP, ASX:BHP) reports that the company is looking to address Canadian concerns about lost revenue from its takeover bid for Potash Corp.

The press release is quoted as saying:

BHP, the world’s biggest miner, offered Saskatchewan a fraction of the C$3 billion ($2.9 billion) over 10 years that the province is seeking to make up for expected revenue losses, the government officil said on Tuesday, causing talks to break down. Saskatchewan will now give the bid an unfavourable review later this week, a source familiar with the matter said, possibly leading to the Canadian government quashing the deal.

Click here to access the entire press release