Sunday, October 10, 2010

Ontario Teachers Pension Plan To Bid for Potash Corp.

The U.K.'s Sunday Times reports that Canada's own Ontario Teachers' Pension Plan is planning a bid for Potash Corp (POT), spoiling BHP Billiton's $39 billion unwated hostile offer. The OTPP is in talks with Temasek, Singapore's sovereign wealth fund, about launching a joint offer.

The talks are still at an early stage for an outright takeover or buying a minority stake at a higher price than that the low offer by BHP.

The Telegraph in the U.K. also said Potash was talking to groups such as OTPP and others, which had received strong support from the Canadian government.

OTPP and Temasek have an industrial partner in Teck Resources.

This may be a good move for the OTPP as a bid for POT is clearly one that cannot go wrong in the long term.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics