Energy News  





.
FARM NEWS
Sinochem struggles to mount rival Potash bid: report

by Staff Writers
Hong Kong (AFP) Sept 30, 2010
China's Sinochem Group is struggling to mount a rival offer to thwart BHP Billiton's hostile 40 billion US dollar hostile takeover bid for Canada's Potash Corp, a report said Thursday.

The state-owned company is having trouble finding a partner to make an offer for Potash, the world's biggest fertiliser maker, after talks broke down with Russian fertiliser group UralKali, the Financial Times said.

Sinochem had made earlier approaches to a Canadian public pension fund and Singapore sovereign wealth fund Temasek, the paper said, as the firm looks to soothe fears in Ottawa about Potash being sold to a Chinese state company.

Sinochem had also asked the Chinese government to back a potential bid, local media has reported.

The group -- China's top fertiliser maker -- did not have sufficient funds to make the bid on its own, and would need to team up with another firm, reports have said.

China, a major importer of potash which is used to make fertiliser, has been uneasy about the BHP bid as it already buys large quantities of the company's iron ore.

Potash filed a lawsuit last week aimed at stopping the hostile takeover by the Anglo-Australian mining giant, saying its bid was built on "false and misleading statements and omissions." It had earlier described the 130 dollar per share all-cash offer as "wholly inadequate."

BHP dismissed the lawsuit as "entirely without merit", adding that the firm "will contest it vigorously."




Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
Farming Today - Suppliers and Technology



Tempur-Pedic Mattress Comparison

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News
FARM NEWS
China wins WTO backing in chicken fight with US
Geneva (AFP) Sept 29, 2010
China won a rare victory at the World Trade Organization against the United States on Wednesday after an arbitration panel ruled that US restrictions on Chinese poultry imports are illegal. Arbitration panels typically call on offending parties to lift the illegal measure but in this case, the panel said that it would not make any recommendation as the disputed US restrictions have since exp ... read more

.
Get Our Free Newsletters Via Email
  


FARM NEWS
U.K. company plans survey satellite fleet

NASA Awards Contract For JPSS-1 Spacecraft

NASA's MODIS And AIRS Instruments Watch Igor Changing Shape And Warming Over 3 Days

A Growing La Nina Chills Out The Pacific

FARM NEWS
Japan's first GPS satellite in operational orbit

Geotagged Photos Help Prioritize Oil Spill Response In Gulf

Rush Trucking Selects SkyBitz To Increase Security And Asset Efficiency

E-Shirt Improves Physical Exercise

FARM NEWS
World's oldest trees under threat

The Amazon Rainforest - A Cloud Factory

Pristine Rainforests Are Biogeochemical Reactors

Highway plan would destroy Serengeti: biologists

FARM NEWS
Searching In The Microbial World For Efficient Ways To Produce Biofuel

Successful Sludge-To-Power Research Demonstrated

Indonesia's palm oil giant faces sanction from industry body

S.Africa's Sasol flies first fully synthetic jet fuel flight

FARM NEWS
PSEG And JEA Dedicate Jacksonville Solar

APS Continues To Bring More Solar To Arizona

SolFocus CPV Solar Systems Help Build A Clean Energy Future

Natcore Unveils First Commercial Application

FARM NEWS
Spanish windmill makers tilt overseas

US Wind Energy Project Nets Billions

Britain opens world's largest offshore wind farm

Spanish wind turbine firm Gamesa to triple China investments

FARM NEWS
China bans mine bosses from sending assistants down shafts

Australia minister reassures coal industry

Tough road ahead for trapped Chile miners

Trapped miners in Chile are alive after 17 days

FARM NEWS
China says jailed dissident not right for Nobel Peace Prize

China gender gap fuelling global human trafficking: report

Chinese let loose on government 'feedback' website

Prominent Chinese activist freed: rights groups


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement