K+S Signs on Koch as Legacy Customer in Midst of Takeover Fight
2015-08-18 07:12:51.895 GMT
By Andrew Noël
(Bloomberg) -- K+S AG, which has rebuffed a takeover bid
from Potash Corp. of Saskatchewan Inc., signed an agreement with
Koch Fertilizer to supply potash from its Legacy project that’s
adjacent to the operations of its suitor.
“We are seeing enormous interest in potash from our Legacy
mine both from existing and new customers,’’ K+S board member,
Andreas Radmacher, in charge of the Potash and Magnesium
Products business unit, said in a statement.
K+S will likely view the accord as a poignant reminder to
Potash Corp. of the value of its C$1.4 billion Legacy mine
project as it’s the asset that’s most attractive to its Canadian
suitor. Production is set to reach about 2 million tons by the
end of 2017, and Koch has exclusive rights to 500,000 short
tons.
Link to Company News:{SDF GR <Equity> CN <GO>}
Link to Company News:{POT CN <Equity> CN <GO>}
Link to Company News:{3097Z US <Equity> CN <GO>}
For Related News and Information:
Top Stories:{TOP<GO>}
To contact the editor responsible for this story:
Andrew Noël at +44-20-3525-2304 or
anoel@bloomberg.net
2015-08-18 07:12:51.895 GMT
By Andrew Noël
(Bloomberg) -- K+S AG, which has rebuffed a takeover bid
from Potash Corp. of Saskatchewan Inc., signed an agreement with
Koch Fertilizer to supply potash from its Legacy project that’s
adjacent to the operations of its suitor.
“We are seeing enormous interest in potash from our Legacy
mine both from existing and new customers,’’ K+S board member,
Andreas Radmacher, in charge of the Potash and Magnesium
Products business unit, said in a statement.
K+S will likely view the accord as a poignant reminder to
Potash Corp. of the value of its C$1.4 billion Legacy mine
project as it’s the asset that’s most attractive to its Canadian
suitor. Production is set to reach about 2 million tons by the
end of 2017, and Koch has exclusive rights to 500,000 short
tons.
Link to Company News:{SDF GR <Equity> CN <GO>}
Link to Company News:{POT CN <Equity> CN <GO>}
Link to Company News:{3097Z US <Equity> CN <GO>}
For Related News and Information:
Top Stories:{TOP<GO>}
To contact the editor responsible for this story:
Andrew Noël at +44-20-3525-2304 or
anoel@bloomberg.net