Rio Unlikely to Make Potash Corp Bid, UBS Says After CEO Albanese Meeting |
| Bloomberg - Aug 24, 2010 |
Rio Tinto Group, the world’s third- largest mining company, is unlikely to make a takeover bid for Potash Corp. of Saskatchewan Inc., UBS AG said after meeting with Chief Executive Officer Tom Albanese.
“A bid or even a joint bid for Potash Corp., as alluded to in the press, is far from happening,” UBS analysts led by Olivia Ker and Glyn Lawcock said in a report dated yesterday. The company is focused on growth by expansion and acquisitions of a “small-to-moderate” size, Ker said, citing Albanese.
Rio and a Chinese partner may be considering a bid for Potash Corp. to rival BHP Billiton Ltd.’s $40 billion offer, the Globe and Mail reported yesterday, citing unidentified people. Potash Corp., the world’s biggest fertilizer maker, this week said it began talks with other companies after rejecting BHP’s cash bid of $130 a share.
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- Posted: 2010-08-24 21:46:47
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