K+S shares spike after takeover offer from Potash

Fri Jun 26, 2015 3:09am EDT
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FRANKFURT, June 26 (Reuters) - Shares in German potash producer K+S leapt 38 percent to 40 euros in early trading on Friday after the company received a takeover proposal from larger Canadian fertilizer producer Potash Corp.

K+S said it was assessing its options. Two sources close to the matter however, said late on Thursday that K+S would likely reject the 7 billion euro ($7.8 billion) takeover offer as being too low.

The sources said the offer values K+S at just over 40 euros a share. (Reporting by Arno Schuetze; Editing by Georgina Prodhan)