Canada correct to reject BHP Billiton bid for Potash Corp
Since BHP Billiton's proposed deal was simply a paper transaction to change ownership of an already existing company Potash Corp, the Canadian government was correct to reject the deal. A simple change of ownership does not create a new company with new jobs and investment, it simply leaves in place what already exists. This is hardly a benefit to Canada. Instead, BHP Billiton should develop its own mining operations in Canada and create new jobs and new investment. This would benefit Canada and Canadians far more than taking over a company that already exists. Well done Canada!
This is a dead deal now, time to move on. I am glad BHP did not over pay; they have the money now to look else where for a good investment for the shareholders. I sold my RIMM stock also, no companies in Canada for me. Move on.
help me understand. bhp shd investment in it's new canadian mine having just seen good evidence that, if/when it shd want 2 sell it 2 another offshore company, the canadian gvt mite well prevent such a sale, leaving bhp a captive seller 2 the home crowd (pot)? just 2 much country risk 2 have investment in that silly country. shd b getting its capital out sap.