September 6, 2015 / 6:29 PM / 2 years ago

Canada's Potash hires third bank in battle for K+S: paper

FRANKFURT (Reuters) - Canada’s Potash Corp of Saskatchewan (POT.TO) has hired a third investment bank as adviser in its effort to take over German fertilizer maker K+S (SDFGn.DE), a German newspaper reported on Sunday.

The PotashCorp Cory Mine facility is pictured near Saskatoon, Saskatchewan October 10, 2013. REUTERS/David Stobbe

Bank of America Merrill Lynch will join Morgan Stanley and Deutsche Bank in advising the Canadians in the effort, the Frankfurter Allgemeine Zeitung newspaper said, without citing sources.

K+S has also taken on Rothschild as an adviser, alongside Goldman Sachs, the paper added, again without citing sources.

K+S rejected a 7.9 billion euro ($8.81 billion) offer from Potash but said it would consider any improved offer after its position was boosted by stronger than expected quarterly earnings.

Potash and K+S were not immediately available for comment. The banks all declined comment, the Frankfurter Allgemeine Zeitung said.

Reporting by Jonathan Gould in Frankfurt and Rod Nickel in Winnipeg

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