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Monday, October 5, 2015
Potash Corp. drops bid for K+S
Potash Corporation of Saskatchewan has dropped its $11.4-billion bid for K+S AG because of sinking commodity and share prices.
That prompted a 25 per cent drop in prices for shares of K+S; the price soon recovered to a 19 per cent drop.
Potash Corporation said there would be huge benefits to merging the companies when it launched its takeover bidding June 25.
At least one of the three big companies that mine potash in Saskatchewan has been cutting back production to bolster prices.
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