Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

PotashCorp proposes takeover bid for German potash producer K+S AG

KASSEL, Germany – Potash Corporation of Saskatchewan Inc. is looking into a takeover bid for German potash producer K+S AG.

PotashCorp confirmed in a statement it had made what it called a “private proposal” to “negotiate” an acquistion, but said there is no certainty that an offer will ultimately be made.

K+S had earlier posted a statement to its website saying PotashCorp (TSX:POT) had submitted a written proposal to acquire all outstanding shares of the company, depending on certain conditions including due diligence.

Both companies declined to comment further on the matter and the proposed purchase price was not disclosed.

K+S AG has a market capitalization of 5.56 billion euros or about C$7.7 billion.

PotashCorp’s market capitalization stands at $33 billion.

News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.

Related Articles