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K+S Increases Ownership of Potash One to 90.9%
Feb. 08, 2011 08:39PM PST
Potash InvestingPotash One Inc. (TSE:KCL) announced that it has been advised by K+S Canada Holdings Inc. that an additional 9,006,887 common shares (the “Potash One Shares”) of Potash One have been deposited since January 18, 2011 to K+S Canada’s offer to acquire all of the issued and outstanding Potash One Shares for $4.50 in cash per Potash One Share .
Potash One Inc. (TSX:KCL) announced that it has been advised by K+S Canada Holdings Inc. that an additional 9,006,887 common shares (the “Potash One Shares”) of Potash One have been deposited since January 18, 2011 to K+S Canada’s offer to acquire all of the issued and outstanding Potash One Shares for $4.50 in cash per Potash One Share .
The press release is quoted as saying:
Potash One has been advised by K+S Canada that since the Offer has been accepted by the holders of more than 90% of the Potash One Shares, K+S Canada intends to exercise its right to acquire the remaining approximately 8,718,914 outstanding Potash One Shares pursuant to a compulsory acquisition under the Canada Business Corporations Act. Potash One has been advised that K+S Canada expects to complete the compulsory acquisition within the next 90 days.
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