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