September 21, 2010 / 4:30 AM / 7 years ago

Potash says BHP offer still undervalues the firm

SYDNEY, Sept 21 (Reuters) - Canada's Potash Corp (POT.TO) said on Tuesday it still believed BHP Billiton's (BHP.AX) $39 billion takeover offer substantially undervalued the company.

Potash said in a statement that a deadline extension of BHP's offer to Nov. 18 did not change its views on the bid and it continued to urge its shareholders to reject the approach.

"The Potash Corp board believes that the offer is wholly inadequate and is not in the best interests of the company, its shareholders or other stakeholders," Potash said in a statement emailed to Reuters.

Reporting by Michael Smith; Editing by Mark Bendeich

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