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BHP rises on talk of Potash bid rejection -traders
November 2, 2010 / 3:10 PM / 7 years ago

BHP rises on talk of Potash bid rejection -traders

FRANKFURT/LONDON, Nov 2 (Reuters) - Shares in BHP Billiton (BLT.L) extended gains on Tuesday afternoon to trade 2.2 percent higher, with traders citing market talk that its bid for Potash Corp (POT.N) (POT.TO) had been rejected.

BHP Billiton was not immediately available for comment.

Earlier, Canada insisted it had made no decision yet on what to do about BHP’s $39-billion offer to buy Potash, even as two newspapers reported that bureaucrats were advising that the bid should go ahead. [ID:nN02206060]

One U.S. hedge fund manager said: “Potash and BHP think that Canada is going to approve the deal. We think the odds are 60 percent in favour of approval.” (Reporting by Ruppert Pretterklieb in Frankfurt and Joanne Frearson, Victoria Howley and Eric Onstad in London)

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