City sceptical on the prospect of rival offers for PotashCorp

City sceptical on the prospect of rival offers for PotashCorp

first_imgMonday 11 October 2010 9:15 pm ANALYSTS yesterday poured scorn on talk of rival white knight offers waiting in the wings to scupper BHP Billiton’s $39bn (£24.5bn) bid for Canadian fertiliser giant PotashCorp.Reports over the weekend suggested both the Ontario Teachers Pension Fund and Chinese state-owned chemicals group Sinochem had already approached Temasek with a view to trying to find a partner to bid for all or part of PotashCorp.But City analysts said the length of time which has already elapsed since BHP’s bid – almost eight weeks – and the increasing complexity of deals being discussed meant BHP is likely to have a clear run at the company.“With six weeks to go before the BHP offer closes it is clear that the Chinese look unlikely to enter the fray and the schemes being tabled now are becoming increasingly political, complex and difficult to execute,” Liberum Capital said yesterday.“We feel the defence is running out of ideas and if they succeed in seeing off BHP it is because they have blocked the deal (politically or otherwise) and not because they have tabled a knock-out premium bid.”PotashCorp is currently working on contingency plans to break up the company as a way of batting away BHP’s bid, including selling $14bn of nitrogen and phosphorous assets. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp Show Comments ▼center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times City sceptical on the prospect of rival offers for PotashCorp Tags: NULLlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *