Canada urged to block the potash BHP takeover
If offer BHP succeeds, it would lead to job losses in the province, the collapse of the revenue and loss of control
a major national resource, according to the Premier of Saskatchewan, Brad Wall.
Potash has already rejected the hostile (£ 26bn) $remained as too low bid.
"I still don't see how this assumption is a net profit of Saskatchewan or Canada," said Mr. Wall.
He has published formal rejection in advance of the decision of the Government block because the agreement by November 3.
The Government has asked for the entry of Saskatchewan in his review.
The Government of the Canada said last night that he had not yet decided if approve soumission.En pursuant to rules of support, the Government may block foreign acquisition which do not give a "net benefit" in the country.
The Premier of Saskatchewan stated that it will not hold further talks with BHP.
The province already rejected offer BHP with an investment of C$ 370 m (£ 230 m) in local infrastructure, saying that the amount will take for the loss of approximately $3 C revenues as it considers that it would suffer over 10 years.
BHP said it was "ready to enter into commitments which go beyond requirements of dominant Canadian legislation which should respond effectively to the concerns of loss of tax in the province".
Mr. Wall said the agreement is "different" to most of buybacks, that potash is essential for a secure world food supply as
It is a fertilizer key ingredient.
Potash Corp produces approximately a quarter of all the potash worldwide.
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