K+S CFO says does not in principle oppose takeover

Thu Aug 13, 2015 5:26am EDT
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BERLIN Aug 13 (Reuters) - German salt and fertilizer company K+S does not oppose a takeover in principle, but it affirmed the current proposal by Canada's Potash Corp of Saskatchewan is inadequate in its view.

"Don't get me wrong: We are not at all blocking a potential transaction," K+S finance chief Burkhard Lohr told analysts on Thursday during an earnings call.

But Potash Corp's approach, which is worth 41 euros per share, is insufficient, the CFO added. K+S has also questioned reassurances Potash has given on jobs and sites.

"Every promise has to be reliable," Lohr said. "What we have received is not reliable."

It would be "very difficult" to predict any outcome of possible antitrust reviews of a takeover by Potash Corp., the CFO added. (Reporting by Andreas Cremer; Editing by Georgina Prodhan)