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(Photo courtesy Agrium)
Crops

Chinese group eyes indirect stake in Chile’s SQM

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Santiago | Reuters — China’s CITIC CLSA Capital Markets will participate in the process to buy an indirect stake in Chilean crop nutrition and industrial chemical firm SQM, one of the world’s top lithium producers, the holding company selling the stake said Monday. Holding company Oro Blanco said in a filing with Chile’s securities regulator
Mosaic’s potash facility at Esterhazy, Sask. (Greg Berg photo)
Crops, Markets

Mosaic lays off staff at Sask. potash mine

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Reuters — U.S. fertilizer company Mosaic Co. has laid off 46 unionized workers, or eight per cent of the workforce, at its Colonsay, Sask. potash mine, the company said Friday, as producers struggle with weak demand. Potash prices have fallen in the past year due to excessive mining capacity and reduced demand in key markets.
Lorne Hehn, shown here in an undated photo, was a southern Saskatchewan farmer before becoming UGG’s president in Winnipeg in 1981. (Grainews file photo)
Crops

Former UGG, CWB chief Lorne Hehn, 79

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Lorne Hehn, at his funeral last week, was remembered as the Saskatchewan farmer-turned-businessman who led the Canadian Wheat Board toward its next-to-last incarnation as a farmer-controlled marketing agency. Hehn, who died Sept. 16 at age 79, had farmed at Markinch, about 65 km north of Regina, and was involved in several farm organizations, becoming a
(K-plus-S.com)
Crops, Markets

PotashCorp withdraws takeover bid for K+S

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New York/Frankfurt | Reuters –– PotashCorp said Monday it had withdrawn its 7.9 billion euro (C$11.6 billion) offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management. K+S shares dropped 24 per cent after Potash announced its decision in a statement, wiping
(Dave Bedard photo)
Crops, Markets

Liberals, NDP say would clarify foreign takeover rules

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Winnipeg | Reuters –– Canada’s Liberal and New Democratic parties, vying to replace the governing Conservatives in a tight three-way election race, both say they would clarify rules around foreign corporate takeovers if they win. Liberal leader Justin Trudeau, campaigning in Winnipeg on Tuesday, said foreign investors need clearer rules around takeovers. “(Conservative Prime Minister
(Dave Bedard photo)
Crops, Markets

PotashCorp says not actively discussing K+S takeover

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Reuters — PotashCorp is not actively discussing its takeover proposal with Germany’s K+S, but remains interested in a combination of fertilizer producers that would aid North American potash sales and offer new access to Europe, CEO Jochen Tilk said Wednesday. PotashCorp’s standing offer of 7.9 billion euros (C$11.75 billion) or 41 euros per share is
(K-plus-S.com)
Crops, Markets

K+S says Legacy supply deal highlights independence

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Frankfurt | Reuters –– Germany’s K+S signed a supply deal for potash fertilizer from its Legacy mine in Canada, saying the agreement strengthened its position as an independent supplier as it battles an unwanted takeover bid from Canada’s PotashCorp. The salt and fertilizer producer said it had agreed an exclusive deal to supply Koch Fertilizer
(Dave Bedard photo)
Crops, Markets

K+S says retail shareholders back rejecting PotashCorp

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Frankfurt | Reuters –– German salt and fertilizer company K+S AG says a survey of its retail investors shows they strongly support its rejection of a 7.9 billion euros (C$11.4 billion) takeover offer from Canada’s PotashCorp. K+S said on Monday it had surveyed retail, or non-institutional, shareholders, who hold about 30 per cent of its
(K-plus-S.com)
Crops, Markets

K+S rejects PotashCorp offer, promises on German mines

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Frankfurt | Reuters — German salt and fertilizer company K+S AG once again rejected PotashCorp’s takeover offer Friday, saying the Canadian company’s assurances about maintaining jobs and mine sites in Germany were unreliable. Saskatoon-based PotashCorp sent an unsolicited letter to K+S’s management and supervisory boards, K+S said in a statement. The letter included a proposal

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