October 31, 2010 / 12:43 PM / 9 years ago

BHP Billiton plans to sweeten Potash bid: report

A worker at the Mosiac Belle Plaine potash mine walks past part of the site which is undergoing major expansion in Belle Plaine, Saskatchewan September 29, 2010. REUTERS/David Stobbe

LONDON (Reuters) - BHP Billiton (BHP.AX) is planning to raise its $39 billion hostile bid for Canada’s Potash Corp POT.TO, the world’s largest fertilizer supplier, the Sunday Times reported, citing sources close to the situation.

A London-based spokesman for BHP Billiton BLT.L declined to comment.

The paper said BHP is considering raising its $130 a share offer by 10 percent.

BHP launched its bid in August, but Potash Corp’s stock has consistently changed hands well above the bid price, signaling expectations of a sweetened bid. The shares POT.N closed on Friday at $145.09 on the New York Stock Exchange.

Reporting by Julie Crust; editing by Michael Shields

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