BHP launched a fresh assault on PotashCorp yesterday, claiming that “fast money” is piling into the Canadian fertiliser producer’s shares and challenging rivals to come forward and match BHP’s $39bn hostile takeover bid.
PotashCorp ’s share price lost some of its upward momentum nine days after the launch of the bid, falling from highs of $153 on Tuesday to $146 at midday yesterday in New York. BHP’s all-cash offer is pitched at $130 per share.
Marius Kloppers, chief executive of the world’s biggest miner, dismissed speculation about a possible Chinese-led counterbid, adding, “I’ve only seen one bid. It’s the bid we made. It’s the bid on the table.”