K+S says no basis for talks suggested by Potash Corp

Fri Jul 3, 2015 6:14am EDT
 
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FRANKFURT, July 3 (Reuters) - German potash miner K+S on Friday rebuffed Potash Corp's overture to engage in talks over its proposed 7.85 billion euro ($8.72 billion) takeover.

"Potash Corp's response contains nothing new for us. That is why there is no basis for talks," a spokesman for the German group said.

Canada's Potash Corp of Saskatchewan said on Friday it was confident of addressing concerns raised by K+S over the takeover proposal for the German potash miner, and that it would seek to meet with K+S's management as soon as possible.

The K+S spokesman added the company would in principle assess any new proposal. ($1 = 0.9001 euros) ($1 = 0.9001 euros) (Reporting by Patricia Weiss; Writing by Ludwig Burger; Editing by Georgina Prodhan)