Saskatchewan’s economy may grow half as quickly as projected after OAO Uralkali, the world’s largest potash producer, broke up a cartel that controlled 43 percent of world exports, Royal Bank of Canada said in a note.
Saskatchewan Premier Brad Wall said BHP Billiton Ltd. ’s $40 billion hostile offer for Potash Corp. of Saskatchewan Inc. isn’t beneficial to his province or to Canada, citing lost revenue stemming from the deal.
BHP Billiton Ltd. isn’t interested in extending a deadline on a government review of its $40 billion takeover bid of Potash Corp. for Saskatchewan Inc., said Andrew Mackenzie , BHP’s head of non-ferrous businesses.
Canadian Industry Minister Tony Clement , who earlier this month rejected BHP Billiton Ltd. ’s offer for Potash Corp. of Saskatchewan Inc. and gave 30 days for an appeal, said he will end his review now that the company has withdrawn its bid.
Canada will give investors more clarity on foreign ownership restrictions after BHP Billiton Ltd. withdrew its hostile $40 billion offer for Potash Corp. of Saskatchewan Inc. following an initial rejection.