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BFW 07/02 10:45 K+S Said to Reject Takeover Proposal by Rival Potash Corp.
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K+S Said to Reject Takeover Proposal by Rival Potash Corp. 2015-07-02 10:43:09.696 GMT
By Aaron Kirchfeld, Andrew Noël and Sheenagh Matthews (Bloomberg) -- K+S AG, the German potash supplier, plans to reject a takeover offer from Canadian fertilizer producer Potash Corp. of Saskatchewan Inc. because it deems the bid to be too low, according to people familiar with the matter. The German company is preparing to announce its opposition to the bid as early as today, said the people, who asked not to be identified because the matter is private. A representative for K+S declined to comment.
For Related News and Information: Intrepid Shares Surge as PotashCorp Bid for K+S Stirs M&A Talk Potash Cuts Earnings Outlook on Higher Taxes, Foreign Income Uralkali Agrees on Potash Shipments of 850,000 Tons to China K+S Says 75% of Legacy Mine Spending is Secured, Reducing Risk Top Stories: TOP <GO>
To contact the reporters on this story: Aaron Kirchfeld in London at +44-20-3525-8830 or akirchfeld@bloomberg.net; Andrew Noël in London at +44-20-3525-2304 or anoel@bloomberg.net; Sheenagh Matthews in Frankfurt at +49-69-92041-217 or smatthews6@bloomberg.net To contact the editors responsible for this story: Simon Thiel at +44-20-3525-2814 or sthiel1@bloomberg.net; Aaron Kirchfeld at +44-20-3525-8830 or akirchfeld@bloomberg.net Aaron Kirchfeld