November 1, 2010 / 7:45 PM / 9 years ago

Canada aims for quick decision on BHP-Potash deal

OTTAWA, Nov 1 (Reuters) - Canada aims to decide quickly whether to approve or block BHP Billiton’s (BHP.AX) $39 billion takeover bid for Potash Corp POT.TO, Industry Minister Tony Clement said on Monday.

Clement told reporters he was in the final stages of deliberations on the proposed deal. “A decision must be taken as soon as possible,” he said.

Clement must judge whether the deal would be of “net benefit” to Canada, as loosely defined in Ottawa’s foreign investment laws. He said last week he would deliver a decision by midnight on Wednesday, Nov. 3 (0400 GMT Nov 4). (Reporting by Louise Egan; editing by Rob Wilson)

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