Potash says confident can address K+S' concerns about takeover offer

Fri Jul 3, 2015 1:59am EDT
 
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FRANKFURT, July 3 (Reuters) - Potash Corp of Saskatchewan said it was confident it could address concerns raised by its peer K+S about its 7.9 billion euro offer to buy the German potash miner.

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

"PotashCorp has put forward a compelling proposal to negotiate a transaction that it believes balances the interests of investors and other stakeholders, including the employees and communities in which the companies operate," the company said in a statement.

"It is encouraged by K+S' response since many of the matters raised have already been addressed in previous correspondence or can be addressed if K+S were to agree to meet with company representatives," the firm added.

Potash Corp said its proposal was not based on closing mines, curtailing production, selling the salt business or cutting jobs. (Reporting by Harro ten Wolde; Editing by Himani Sarkar)