BHP Billiton launches hostile 40-billion-dollar Potash bid

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Anglo-Australian mining giant BHP Billiton on Wednesday launched a hostile takeover bid for Canada's Potash Corp which values the world's largest fertiliser producer at about 40 billion dollars.

"BHP Billiton today announced its intention to make an all-cash offer to acquire all of the issued and outstanding common shares of Potash Corporation," the group said in a statement.

"The offer values the total equity of Potash Corp at approximately 40 billion US dollars (31 billion euros) on a fully-diluted basis."

© 2010 AFP

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