ICL Workers Plan to Protest PotashCorp Takeover

Bloomberg reported that ICL workers who oppose the pending takeover by PotashCorp are planning a strike.

As quoted in the market report:

The demonstrations come as Calcalist reported today that Potash Corp. is prepared to pay more than $20 billion for control of the company and that officials met in the past week with Israel Corp., which holds a controlling stake in Israel Chemicals. Prime Minister Benjamin Netanyahu met on Oct. 31 with Potash Chief Executive Officer Bill Doyle about a possible merger with the company in which it already has a 13.84 percent stake. The government can block takeover bids of the country’s second-largest company by market value by using its so-called golden share, allowing the state to prevent a takeover to protect natural resources.

To view the whole Bloomberg report, click here.