Canada Is in Process of Explaining Decision on Potash to BHP

Agriculture Investing

Bloomberg reports that Canadian Industry Minister Tony Clement said the government is explaining to BHP Billiton Ltd. decision to reject $40 billion bid.

Bloomberg reports that Canadian Industry Minister Tony Clement said the government is explaining to BHP Billiton (NYSE:BHP) Ltd. decision to reject $40 billion bid.

The market news is quoted as saying:

Clement rejected the offer from Melbourne-based BHP, the world’s largest mining company, on Nov. 3, saying the proposal doesn’t provide a “net benefit” to Canada. Under Canadian law, BHP has 30 days from the date of the ruling to appeal. Clement’s decision was only the nation’s second rejection of a foreign takeover in the past 25 years.

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