Potash Corp’s CEO slams BHP’s bid

TORONTO (BestGrowthStock) – Potash Corp has been approached by a variety of third parties that are considering a big investment in the fertilizer industry, Chief Executive Bill Doyle on Monday.

Doyle said he has kept in close contact with his company’s shareholders over the last week and BHP Billiton’s hostile bid worth $130 per share has “no traction whatsoever” with them.

The head of the world’s largest fertilizer company also said the company was considering all possible strategic alternatives and that it had received expressions of interest from several players.

Doyle, who has headed Potash Corp for over a decade, declined to comment on a valuation on Potash Corp, but stressed that it was worth “a hell of a lot more” than $130 a share.

“It’s a dangerous game when you think you are the only player in town,” said Doyle, referring to BHP Billiton’s offer, which values Potash Corp at nearly $39 billion.

(Reporting by Euan Rocha in Toronto, Michael Erman in New

York, Eric Onstad and Una Galani in London)

Potash Corp’s CEO slams BHP’s bid