PotashCorp Confirms Friendly Proposal to K+S
2015-06-25 21:40:44.937 GMT
PotashCorp Confirms Friendly Proposal to K+S
PR Newswire
SASKATOON, June 25, 2015
Symbol: POT
Listed: TSX, NYSE
SASKATOON, June 25, 2015 /PRNewswire/ - Potash Corporation of Saskatchewan
Inc. (PotashCorp) today confirmed that it has made a private proposal to K+S
Aktiengesellschaft (K+S) (SDF: GR) to negotiate the acquisition of K+S by
PotashCorp.
There is no certainty that any offer will ultimately be made or as to the
terms on which such an offer might be made.
PotashCorp does not intend to make any additional comments on this matter at
this time unless and until it is appropriate to do so, or a formal agreement
has been reached.
PotashCorp is the world's largest integrated fertilizer and related industrial
and feed products company by capacity and plays an integral role in global
food production. PotashCorp is the world's largest producer, by capacity, of
potash and one of the largest producers of nitrogen and phosphate. These three
essential nutrients are required to help farmers grow healthier, more abundant
crops. With the global population rising and diets improving in developing
countries, these nutrients offer a responsible and practical solution to
meeting the long-term demand for food. While agriculture is its primary
market, the company also produces products for animal feed and industrial
uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on
the Toronto Stock Exchange and the New York Stock Exchange.
This release contains "forward-looking statements" (within the meaning of the
US Private Securities Litigation Reform Act of 1995) or "forward-looking
information"(within the meaning of appropriate Canadian securities
legislation) that relate to future events or our future performance. These
statements can be identified by expressions of belief, expectation or
intention, as well as those statements that are not historical fact. These
statements often contain words such as "should," "could," "expect," "may,"
"anticipate," "believe," "intend," "estimates," "plans" and similar
expressions. These statements are based on certain factors and assumptions as
set forth in this document, including with respect to: foreign exchange rates,
expected growth, results of operations, performance, business prospects and
opportunities and effective tax rates. While we consider these factors and
assumptions to be reasonable based on information currently available, they
may prove to be incorrect. Forward-looking statements are subject to risks and
uncertainties that are difficult to predict. The results or events set forth
in forward-looking statements may differ materially from actual results or
events. Several factors could cause actual results or events to differ
materially from those expressed in forward-looking statements including, but
not limited to, the following: variations from our assumptions with respect to
foreign exchange rates, expected growth, results of operations, performance,
business prospects and opportunities, and effective tax rates; risks and
uncertainties associated with the proposed but not completed transaction
including the risk that the transaction may not be completed on a timely basis
or at all; fluctuations in supply and demand in the fertilizer, sulfur,
transportation and petrochemical markets; changes in competitive pressures,
including pricing pressures; costs and availability of transportation and
distribution for our raw materials and products, including railcars and ocean
freight; risks and uncertainties related to operating and workforce changes
made in response to our industry and the markets we serve; risks and
uncertainties related to our international operations and assets; failure to
prevent or respond to a major safety incident; adverse or uncertain economic
conditions and changes in credit and financial markets; the results of sales
contract negotiations within major markets; economic and political uncertainty
around the world; risks associated with natural gas and other hedging
activities; changes in capital markets; unexpected or adverse weather
conditions; catastrophic events or malicious acts, including terrorism;
changes in currency and exchange rates; imprecision in reserve estimates;
adverse developments in new and pending legal proceedings or government
investigations; our prospects to reinvest capital in strategic opportunities
and acquisitions; our ownership of non-controlling equity interests in other
companies; the impact of further technological innovation; increases in the
price or reduced availability of the raw materials that we use; security risks
related to our information technology systems; strikes or other forms of work
stoppage or slowdowns; timing and impact of capital expenditures; rates of
return on, and the risks associated with, our investments and capital
expenditures; changes in, and the effects of, government policies and
regulations; certain complications that may arise in our mining process,
including water inflows; our ability to attract, retain, develop and engage
skilled employees; risks related to reputational loss; earnings; and the
decisions of taxing authorities, which could affect our effective tax rates.
These risks and uncertainties are discussed in more detail under the headings
"Risk Factors" and "Management's Discussion and Analysis of Results and
Operations and Financial Condition" in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2014 and in other documents and reports
subsequently filed by us with the US Securities and Exchange Commission and
the Canadian provincial securities commissions. There can be no assurance that
the proposed transaction will be completed. Completion of the proposed
transaction is subject to a number of risks and uncertainties. Forward-looking
statements are given only as of the date hereof and we disclaim any obligation
to update or revise any forward-looking statements in this release, whether as
a result of new information, future events or otherwise, except as required by
law.
SOURCE Potash Corporation of Saskatchewan Inc.
Website: http://www.potashcorp.com
Contact: Investors: Denita Stann, Vice President, Investor and Public
Relations, Phone: (306) 933-8521, Fax: (306) 933-8844, Email:
ir@potashcorp.com; Media: Randy Burton, Director, Public Relations and
Communications, Phone: (306) 933-8849, Fax: (306) 933-8844, Email:
pr@potashcorp.com; Website: www.potashcorp.com
-0- Jun/25/2015 21:40 GMT
2015-06-25 21:40:44.937 GMT
PotashCorp Confirms Friendly Proposal to K+S
PR Newswire
SASKATOON, June 25, 2015
Symbol: POT
Listed: TSX, NYSE
SASKATOON, June 25, 2015 /PRNewswire/ - Potash Corporation of Saskatchewan
Inc. (PotashCorp) today confirmed that it has made a private proposal to K+S
Aktiengesellschaft (K+S) (SDF: GR) to negotiate the acquisition of K+S by
PotashCorp.
There is no certainty that any offer will ultimately be made or as to the
terms on which such an offer might be made.
PotashCorp does not intend to make any additional comments on this matter at
this time unless and until it is appropriate to do so, or a formal agreement
has been reached.
PotashCorp is the world's largest integrated fertilizer and related industrial
and feed products company by capacity and plays an integral role in global
food production. PotashCorp is the world's largest producer, by capacity, of
potash and one of the largest producers of nitrogen and phosphate. These three
essential nutrients are required to help farmers grow healthier, more abundant
crops. With the global population rising and diets improving in developing
countries, these nutrients offer a responsible and practical solution to
meeting the long-term demand for food. While agriculture is its primary
market, the company also produces products for animal feed and industrial
uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on
the Toronto Stock Exchange and the New York Stock Exchange.
This release contains "forward-looking statements" (within the meaning of the
US Private Securities Litigation Reform Act of 1995) or "forward-looking
information"(within the meaning of appropriate Canadian securities
legislation) that relate to future events or our future performance. These
statements can be identified by expressions of belief, expectation or
intention, as well as those statements that are not historical fact. These
statements often contain words such as "should," "could," "expect," "may,"
"anticipate," "believe," "intend," "estimates," "plans" and similar
expressions. These statements are based on certain factors and assumptions as
set forth in this document, including with respect to: foreign exchange rates,
expected growth, results of operations, performance, business prospects and
opportunities and effective tax rates. While we consider these factors and
assumptions to be reasonable based on information currently available, they
may prove to be incorrect. Forward-looking statements are subject to risks and
uncertainties that are difficult to predict. The results or events set forth
in forward-looking statements may differ materially from actual results or
events. Several factors could cause actual results or events to differ
materially from those expressed in forward-looking statements including, but
not limited to, the following: variations from our assumptions with respect to
foreign exchange rates, expected growth, results of operations, performance,
business prospects and opportunities, and effective tax rates; risks and
uncertainties associated with the proposed but not completed transaction
including the risk that the transaction may not be completed on a timely basis
or at all; fluctuations in supply and demand in the fertilizer, sulfur,
transportation and petrochemical markets; changes in competitive pressures,
including pricing pressures; costs and availability of transportation and
distribution for our raw materials and products, including railcars and ocean
freight; risks and uncertainties related to operating and workforce changes
made in response to our industry and the markets we serve; risks and
uncertainties related to our international operations and assets; failure to
prevent or respond to a major safety incident; adverse or uncertain economic
conditions and changes in credit and financial markets; the results of sales
contract negotiations within major markets; economic and political uncertainty
around the world; risks associated with natural gas and other hedging
activities; changes in capital markets; unexpected or adverse weather
conditions; catastrophic events or malicious acts, including terrorism;
changes in currency and exchange rates; imprecision in reserve estimates;
adverse developments in new and pending legal proceedings or government
investigations; our prospects to reinvest capital in strategic opportunities
and acquisitions; our ownership of non-controlling equity interests in other
companies; the impact of further technological innovation; increases in the
price or reduced availability of the raw materials that we use; security risks
related to our information technology systems; strikes or other forms of work
stoppage or slowdowns; timing and impact of capital expenditures; rates of
return on, and the risks associated with, our investments and capital
expenditures; changes in, and the effects of, government policies and
regulations; certain complications that may arise in our mining process,
including water inflows; our ability to attract, retain, develop and engage
skilled employees; risks related to reputational loss; earnings; and the
decisions of taxing authorities, which could affect our effective tax rates.
These risks and uncertainties are discussed in more detail under the headings
"Risk Factors" and "Management's Discussion and Analysis of Results and
Operations and Financial Condition" in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2014 and in other documents and reports
subsequently filed by us with the US Securities and Exchange Commission and
the Canadian provincial securities commissions. There can be no assurance that
the proposed transaction will be completed. Completion of the proposed
transaction is subject to a number of risks and uncertainties. Forward-looking
statements are given only as of the date hereof and we disclaim any obligation
to update or revise any forward-looking statements in this release, whether as
a result of new information, future events or otherwise, except as required by
law.
SOURCE Potash Corporation of Saskatchewan Inc.
Website: http://www.potashcorp.com
Contact: Investors: Denita Stann, Vice President, Investor and Public
Relations, Phone: (306) 933-8521, Fax: (306) 933-8844, Email:
ir@potashcorp.com; Media: Randy Burton, Director, Public Relations and
Communications, Phone: (306) 933-8849, Fax: (306) 933-8844, Email:
pr@potashcorp.com; Website: www.potashcorp.com
-0- Jun/25/2015 21:40 GMT