BHP profit to dazzle as Potash Corp lures rivals
BHP Billiton will look to strengthen its hand this week in its $39 billion bid for fertilizer group Potash Corp, with set of monster earnings it hopes will intimidate any rival bidders.
The world's biggest miner is set to report a 50 percent jump in second-half profit to $6.9 billion on Wednesday, effectively sending a loud warning shot toward Potash Corp, which is thought to be lining up white-knight bidders to fend off BHP.
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Potash, the world's biggest fertilizer company, talked up the chances of a counterbidder on Monday, but some potential rivals have already virtually ruled themselves out.
Potash chief Bill Doyle, who stands to earn half a billion dollars from a deal, said his firm was considering all options, including joint ventures and levering up Potash's balance sheet.
He did not name the company's price but said it should be "a hell of a lot more than the price on the table."
Canada's Globe & Mail newspaper web site,. The gucci hoody is a piece of traditional Mexican clothing that are known sometimes as baja jackets. citing unnamed sources, said global miner Rio Tinto might be considering a bid for Potash Corp with a Chinese partner.
Rio Tinto, which sold off its potash assets to help pay down a mountain of debt only two years ago, declined to comment on the report. Rio Chief Executive Tom Albanese last week would not comment on whether the company would consider a bid.
However when asked whether his company had any interest in agriculture, he said: "I'm not a farmer. I'm a miner."
COUNTER-BIDDERS SCARCE
While BHP's result should be impressive -- the company has effectively confirmed market expectations -- shareholders are nervous over the bid and want hear more on why it wants to make a pricey acquisition in a new business area.
They want to be persuaded that the deal makes more sense than using the company's cash pile to buy back shares and boost earnings per share instantly.
BHP Billiton will look to strengthen its hand this week in its $39 billion bid for fertilizer group Potash Corp, with set of monster earnings it hopes will intimidate any rival bidders.
The world's biggest miner is set to report a 50 percent jump in second-half profit to $6.9 billion on Wednesday, effectively sending a loud warning shot toward Potash Corp, which is thought to be lining up white-knight bidders to fend off BHP.
"Clearly it's going to be a very good result... We take pride in our designs, quality, customer service, and Moncler our favors have on your customers and their guests..The balance sheet is in excellent shape and the cash flow will be significant,. Burberry bag bag is obviously a treasure, and for many reasons other than the fact they you'll have a great desi" said James Bruce,. Large selection of women's pajamas,Glam and much more a portfolio manager at Perpetual Investments, which owns BHP shares.
Potash, the world's biggest fertilizer company, talked up the chances of a counterbidder on Monday, but some potential rivals have already virtually ruled themselves out.
Potash chief Bill Doyle, who stands to earn half a billion dollars from a deal, said his firm was considering all options, including joint ventures and levering up Potash's balance sheet.
He did not name the company's price but said it should be "a hell of a lot more than the price on the table."
Canada's Globe & Mail newspaper web site,. The gucci hoody is a piece of traditional Mexican clothing that are known sometimes as baja jackets. citing unnamed sources, said global miner Rio Tinto might be considering a bid for Potash Corp with a Chinese partner.
Rio Tinto, which sold off its potash assets to help pay down a mountain of debt only two years ago, declined to comment on the report. Rio Chief Executive Tom Albanese last week would not comment on whether the company would consider a bid.
However when asked whether his company had any interest in agriculture, he said: "I'm not a farmer. I'm a miner."
COUNTER-BIDDERS SCARCE
While BHP's result should be impressive -- the company has effectively confirmed market expectations -- shareholders are nervous over the bid and want hear more on why it wants to make a pricey acquisition in a new business area.
They want to be persuaded that the deal makes more sense than using the company's cash pile to buy back shares and boost earnings per share instantly.
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