Potash Corp settles U.S. antitrust cases for $43.75 mln

Wed Jan 30, 2013 12:03pm EST
 
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Jan 30 (Reuters) - Potash Corp of Saskatchewan Inc, the world's biggest potash producer by capacity, said it has settled antitrust cases in the United States for $43.75 million.

The settlement of eight private antitrust lawsuits filed by direct and indirect U.S potash buyers in 2008 is subject to final approval of the U.S. District Court for the Northern District of Illinois.

The company said it decided to settle after weighing the multi-year financial cost required to defend the allegations.

"These allegations are completely without merit and we deny all of the claims asserted in the lawsuit," Chief Executive Bill Doyle said in a statement on Wednesday.

Shares of Potash Corp were up slightly at C$43.09 on the Toronto Stock Exchange on Wednesday.