Clement satisfied made right call on BHP

Thu Nov 4, 2010 5:56pm EDT
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OTTAWA (Reuters) - Industry Minister Tony Clement, appearing to cast doubt on BHP Billiton's chances of reversing his veto on a takeover bid for Potash Corp, said on Thursday he was convinced his decision was correct.

Clement blocked the BHP's hostile $39 billion bid on Wednesday, saying it would not be of net benefit to Canada. BHP can submit a renewed proposal if it wishes.

"There is a procedure where the company can make representations if they so choose. All I can tell you is that I'm satisfied that my decision is the right decision," Clement told Reuters in an interview.

(Reporting by David Ljunggren; editing by Rob Wilson)