China considers probe into BHP Billiton’s bid for Potash Corp

first_img China may launch an antimonopoly probe into BHP Billiton’s $39bn (£25bn) bid for Canada’s Potash Corp, the China Business News has claimed.China will also review the merger of two Russian potash firms – Uralkali and Silvinit – given the major impact the two deals would have on China, the paper cited the unnamed source as saying.The report was another indicator that China, as the world’s biggest importer of fertiliser, is wary of further concentration in the market, following BHP Billiton’s launch of a hostile bid for Potash Corp last month.BHP declined to comment on the Chinese newspaper report.The company has said the deal only needs approvals from regulators in Canada and the United States, where Potash Corp sells around half its production.China buys around seven per cent of the output of Potash Corp, which controls around one-fifth of world production of the key crop nutrient.BHP Billiton does not currently produce any potash but does have potash resources it could develop in the future.China’s largest fertiliser distributor, Sinofert Holdings Ltd, said last week it was worried about the impact that a BHP deal would have but would not say if its parent, Sinochem, was planning a rival offer.Government departments and state-owned Sinochem Group have held meetings recently to review the possible impact the two high profile acquisitions could have on China and about possible countermeasures, according to the source quoted by China Business News.Industry analysts have mentioned Chinese companies or the government’s sovereign wealth fund as possible counter-bidders against BHP. whatsapp Wednesday 1 September 2010 3:36 am Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoBetterBe20 Stunning Female AthletesBetterBeUndo whatsappcenter_img John Dunne Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little China considers probe into BHP Billiton’s bid for Potash Corp Tags: NULLlast_img read more