GFM Network News

BHP Kills PotashCorp Bid, Revives Shareholder Buyback

BHP Billiton has scrapped its $39-billion bid for Canada’s PotashCorp and bowed to calls from investors to return cash, a move that came days after regulators blocked the year’s biggest takeover deal. BHP, conceding defeat for the third straight time on a major proposed merger or acquisition, signalled with its revived $4.2-billion share buyback that