K+S says new Potash Corp overture no basis for talks
FRANKFURT, July 21 (Reuters) - Canadian mineral miner Potash Corp has made a fresh attempt to win over the management of takeover target K+S and the German regional state of Hesse, where it is headquartered, but failed to entice K+S into merger talks.
Potash Corp Chief Executive Jochen Tilk had met with the state premier of Hesse, handing over documents about Potash Corp's plans to preserve jobs after a takeover that were afterwards also made available to K+S, a spokesman for the German salt and fertiliser group said.
"We've looked into these statements and concluded that they contain nothing substantial beyond what we had already been given in writing. That's why we still see no basis for talks," he said.
K+S earlier this month rebuffed Potash Corp's 7.9 billion euros ($8.65 billion) proposed bid, of 41 euros per share, as too low and suggested the suitor was planning to shrink the company.
It has dismissed the suitor's pledge to preserve jobs and sites in Germany as too vague.
($1 = 0.9137 euros) (Reporting by Patricia Weiss; Writing by Ludwig Burger; Editing by Victoria Bryan)
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