PotashCorp looks acquire German rival K+S

PotashCorp looks to acquire German rival K+S

5:48 AM, 26th June 2015
PotashCorp looks to acquire German rival K+S

SASKATOON, CANADA: The world’s largest producer of potash (by capacity), Potash Corporation of Saskatchewan Inc (PotashCorp) said that it has made a private proposal to acquire its German rival K+S Aktiengesellschaft (K+S). PotashCorp declined to make any additional comments, until a formal agreement had been reached.

There is no certainty that any offer will ultimately be made or as to the terms on which such an offer might be made, the company said.

PotashCorp had informed the K+S executive directors board and the supervisory board that it may decide, depending on certain conditions, including a due diligence exercise, to offer to the company shareholders the acquisition of all outstanding shares by way of public takeover offer, said K+S.

Currently K+S is assessing the available options, an ongoing process, it said.

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