BUZZ-K+S shares up as Potash Corp deal seen as more likely

Fri Jul 31, 2015 5:53am EDT
 
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** Shares in German potash miner K+S gain 2.6 percent on Friday for the best DAX performance after remarks by Canada's Potash Corp spur market expectation tha a takeover deal is more likely. ** Potash Corp, having proposed a 41 euro-per-share deal, says it remains focused on acquiring K+S and is prepared to make "binding commitments" to preserve jobs but the German group replies it still sees no basis for talks. ** A new offer might come after K+S reports Q2 results on Aug. 13, says Baader Bank analyst Markus Mayer. "We think a new offer price between 45-50 euros is likely." ** "After Potash Corp's remarks yesterday, people are increasingly confident that they won't let up on K+S and that there could be a deal after all," says one trader. ** K+S shares have risen 26 percent since Potash proposed the takeover on June 25. (RM: anika.ross.thomsonreuters.com@reuters.net ludwig.burger.thomsonreuters.com@reuters.net)