Potash Corp open to raising K+S bid - Globe & Mail

Wed Jul 8, 2015 3:50am EDT
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July 8 (Reuters) - Potash Corp of Saskatchewan Inc is confident that K+S AG shareholders would accept its $8.7 billion bid, but is open to raising it if its German rival could reveal more value not currently seen by the Canadian company, the Globe and Mail reported, citing a source close to the deal.

K+S last week rejected Potash Corp's bid, saying it was too low and that the Canadian suitor could be planning to dismantle the company, putting jobs at risk.

Potash Corp said on July 3 it was confident of addressing concerns raised by K+S and that it would seek to meet with K+S's management as soon as possible.

If K+S gave Potash Corp access to its books and the Canadian company found more value, it could raise the bid, the newspaper reported. (bit.ly/1KMMYiL)

"If we sit down and do due diligence and they can demonstrate some incremental value to us, we might have an extra euro for them. I wouldn't rule that out," the daily quoted the source as saying.

Reuters could not immediately reach Potash Corp or K+S for comment. (Reporting by Supriya Kurane in Bengaluru; Editing by Gopakumar Warrier)