BHP Billiton fails to impress Canadian province over Potash bid

first_img whatsapp Tags: NULL KCS-content BHP Billiton fails to impress Canadian province over Potash bid CANADA’S Saskatchewan province has opposed BHP Billiton’s hostile bid for Potash Corp – prompting the minering giant to offer more concessions on tax revenue to get the $39bn (£25bn) deal approved.Canadian officials have the final decision on whether to approve the deal and some analysts said the tough line taken by Saskatchewan appeared to be part of the negotiating process.“I think it’s wrangling rather than anything more serious. There’s a lot that BHP is willing to do in order to ensure that this deal is a success,” said Evolution analyst Charles Kernot.The Canadian province said talks had broken down with BHP after the miner failed to meet its demands.BHP, the world’s biggest mining company, offered Saskatchewan only a fraction of the C$3bn (£1.8bn) over 10 years that the province is seeking to make up for expected revenue losses, the province said in a statement.Saskatchewan will now give the bid an unfavourable review later this week, a source close to the matter said, possibly leading to the Canadian government quashing the deal. “BHP Billiton is confident it can address this concern and, in this regard, is prepared to make commitments which go beyond the requirements of prevailing Canadian legislation that should effectively address the tax loss concerns of the province,” the miner said. Share Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For Wednesday 20 October 2010 7:23 pm Show Comments ▼ last_img

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