SYDNEY Oct 1 BHP Billiton (BHP.AX) said on
Friday it expected to lodge a motion within the next few days
to challenge a lawsuit filed by Potash Corp (POT.TO) to fend
off the miner's $39 billion hostile takeover bid.
BHP said its lawyers were finalising details of the
dismissal motion which could be filed as early as Friday.
"Sometime in the next few days is right," a BHP spokeswoman
said when asked about the timing.
Potash filed a lawsuit in the U.S. District Court in
Chicago last week, alleging that BHP misrepresented material
facts related to its bid for the world's largest producer of
BHP has said previously it planned to "vigorously" contest
For more stories on BHP/Potash: [ID:nN22340110]
Graphic on timeline of bid link.reuters.com/nav26p
FACTBOX on Potash sales and market overview:
[ID:nSGE67J088] FACTBOX on Potash Corp, BHP Billiton:
[ID:nN17274108] DEALTALK on BHP's Potash bid down to
Potash has rejected BHP's bid and said it has been approached
by other parties that are interested in tabling alternative
Sinochem, China's top chemicals firm, is working hard to
come up with a challenge to BHP's (BLT.L) bid for Potash,
sources told Reuters this week, although there are reports it
is struggling to find a partner.
State-owned Sinochem has a team of around 20 working
overtime to come up with options to stall BHP's bid, and was
looking to make a decision soon, sources close to the Chinese
Potash shares last traded at $144.04, 10.8 percent above
BHP's offer of $130, indicating investors were expecting a
(Reporting by Michael Smith; Editing by Ed Davies)