K+S rejects again takeover offer from Potash Corp. – Mining.com

August 7, 2015

German company K+S AG has once again rejected Canada’s Potash Corp.’s (TSX:POT) takeover offer, saying the Saskatoon-based firm’s promise to keep current local jobs and mine sites was unreliable.

Saskatoon-based Potash Corp sent a fresh unsolicited letter to K+S’s management and supervisory boards, K+S said in its website Friday. The document included a proposal for a “business combination agreement” based on an unchanged price of 41 euros ($44.82) per share.

“We are still convinced that the proposed price of 41 euro per share does not at all reflect the fundamental value of K+S,” Norbert Steiner, CEO of K+S, said in the statement.

The Canadian potash miner, which is the world’s second-largest producer of the fertilizer ingredient, is hoping to take over rival K+S, as global competition among sellers deepens.

Read More: http://www.mining.com/ks-rejects-again-takeover-offer-from-potash-corp/