Canada seen unlikely to extend Potash bid review

WINNIPEG, Manitoba (BestGrowthStock) – Canada is unlikely to extend the deadline for completing its review of BHP’s (BHP.AX: ) hostile takeover bid for Potash Corp (POT.TO: ), a Saskatchewan official said on Tuesday.

The federal government is scheduled to rule by November 3 whether BHP’s $39 billion bid for the world’s biggest potash producer can proceed, based on whether it would bring a net benefit to the country.

“I don’t think (an extension) is likely to happen,” said Saskatchewan Energy Minister Bill Boyd in an interview on BNN TV, after meeting with federal Industry Minister Tony Clement on Monday evening. “I suppose it’s possible but we have not received an indication of that.”

Boyd said he does not think Ottawa has already arrived at its decision.

(Reporting by Rod Nickel; editing by Rob Wilson)

Canada seen unlikely to extend Potash bid review