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Bloomberg Businessweek reported that fertilizer giant, Potash Corp of Saskatchewan, has its best chance at taking over Societdad Quimica y Minera de Chile SA in seven years as a recent stock slump and trading probe have threatened to looses the chairman’s grip on the fertilizer market.
Bloomberg Businessweek reported that fertilizer giant, Potash Corp of Saskatchewan, has its best chance at taking over Societdad Quimica y Minera de Chile SA in seven years as a recent stock slump and trading probe have threatened to looses the chairman’s grip on the fertilizer market.
According to the report:
Chilean regulators accused Julio Ponce, the former son-in-law of dictator Augusto Pinochet, of enriching himself at the expense of other shareholders in the holding companies through which he controls Santiago-based SQM. Ponce, who fended off Potash Corp.’s 2006 attempt to wrest control of SQM, may become a more willing seller as a stock rout and further turmoil in the potash industry pressure his finances, said MBI Inversiones.