Potash Corp. (POT) Falls After Canadian Government Rejects BHP Billiton Deal

Potash Corp. (NYSE: POT) shares fell in today's trading after the Canadian government rejected BHP Billiton's (ADR) (NYSE: BHP) takeover bid for the company. The stock ended the day 2.43% lower at $141.97, on above average volume of 35.91. The stock touched an intra-day low of $139.39. It has a 52-week range of $83.85-$153.29. On Wednesday, the Canadian government rejected BHP Billiton's $39 billion takeover offer for Potash, saying that there are no net benefits for the country if the deal went through.  BHP offered to acquire Potash at $130 per share back in August, but the deal faced resistance from the province of Saskatchewan, where Potash is based. Potash Corporation of Saskatchewan is an integrated fertilizer and related industrial and feed products company. The company owns and operates five potash mines in Saskatchewan and one in New Brunswick. It also holds mineral rights at the Esterhazy mine and potash is produced under a mining and processing agreement with a third party. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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