Po­tashCorp looks to get Ger­man firm

The Guardian (Charlottetown) - - BUSINESS -

SASKA­TOON - Po­tashCorp. of Saskatchewan Inc. (TSX:POT) has reaf­firmed its in­ten­tion to ac­quire K+S AG de­spite re­peated re­buffs from the Ger­man potash pro­ducer. “We are con­tin­u­ing to seek a con­struc­tive di­a­logue with K+S to pur­sue a friendly trans­ac­tion,” said Po­tashCorp pres­i­dent and CEO Jochen Tilk in a quar­terly earn­ings con­fer­ence call. Last month, Po­tashCorp told K+S it was will­ing to pay 41 euro per share for the com­pany, a price re­jected by the K+S board as too low. Dur­ing the call, Tilk ad­dressed some of the con­cerns K+S has ex­pressed about the deal, though he em­pha­sized that Po­tashCorp has not yet made a for­mal of­fer. “Our pro­posal isn’t pred­i­cated on job cuts, mine clo­sures or selling the salt busi­ness,” Tilk said. “Our plan would be to op­er­ate the Ger­man potash mines and salt busi­ness in the same man­ner as K+S.”

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