Potash Says Shareholders Need More Details on BHP’s Hostile Takeover Plan

Reuters reports that shareholders of Potash Corp. (NYSE:POT) of Saskatchewan Inc. need complete information about BHP Billiton Ltd.’s (NYSE:BHP) plans.

The market news is quoted as saying:

Attorney Daniel Reidy, seeking to block the sale until BHP provides more complete disclosure of its intentions, told U.S. District Judge David Coar in Chicago today that his client’s shareholders weren’t being told about internal debate at the Australian company. “BHP is deliberately overstating its commitment” to building a competing Saskatchewan potash mine that could be the world’s biggest in an attempt to drive down the Potash share price,” Reidy said.

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