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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:44 EDTBHP, POTPotash Corp. advances after report says BHP could make new bid
Potash Corp. of Saskatchewan (POT) shares are higher this morning following a report that indicated BHP Billiton (BHP) may make another bid for the company. BHP Billiton, a diversified natural resources company, previously tried and failed to buy Potash Corp., an integrated fertilizer and related products maker, in 2010, but failed the government's "net benefit test" and the Saskatchewan government opposed a deal. WHAT'S NEW: The Globe and Mail this morning reported that BHP could consider making a new bid for Potash Corp. The Canadian publication notes that a deal is "not a sure thing," but adds that owning Potash Corp. would be the best way for BHP Billiton to get into the potash business. The Globe and Mail said the value of the potential deal could be "more like $40B," though the "real" cost would be less. BHP has not expressed interest in Potash's operations in phosphate and nitrogen, according to the report, which speculates that BHP could possibly look to sell off those operations and could also look to mothball Potash Corp's $15B Jansen project in Saskatchewan. WHAT'S NOTABLE: The Fly notes that Jochen Tilk will become president and CEO of Potash Corp. on July 1. ANALYST REACTION: Miller Tabak upgraded shares of Potash to Neutral from Sell following the Globe and Mail report. PRICE ACTION: Potash Corp. shares trading in New York were up 60c, or 1.77%, to $34.49 in late-morning trading. Meanwhile, BHP Billiton shares trading in New York were down $1.35, or 1.9%, to $69.89.
News For POT;BHP From The Last 14 Days
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June 30, 2015
14:34 EDTBHPIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
June 28, 2015
19:24 EDTPOTPotash will not divest K+S operations if merger succeeds, Reuters says
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June 26, 2015
05:57 EDTPOTStocks with implied volatility movement; POT WMB
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June 25, 2015
17:43 EDTPOTPotash confirms proposal to K+S Aktiengesellschaft
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15:03 EDTPOTPotash call active on K+S likely to turn down takeover report
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14:59 EDTPOTK+S says assessing options after Potash submitted acquisition proposal
Potash Corporation of Saskatchewan (POT) has informed the board of executive directors and the supervisory board of K+S Aktiengesellschaft (KPLUF) that Potash Corp. may decide, depending on certain conditions, including a due diligence exercise, to offer to the shareholders of the company the acquisition of all outstanding shares by way of public takeover offer, K+S announced. "K+S is currently assessing the available options; this process is still ongoing," the company stated.
14:53 EDTPOTK+S likely to turn down takeover bid from Potash, Bloomberg reports
Potash Corp. (POT) has proposed a takeover offer of more than 40 euros per share to Germany's K+S (KPLUF), but the latter is likely to reject the bid as too low, according to Bloomberg, citing people familiar with the matter. The German potash supplier is still evaluating the bid and no final decision has been made, Bloomberg added. Bloomberg's report follows German newspaper Handelsblatt stating that Potash was eyeing K+S for a possible takeover bid. Reference Link
12:10 EDTPOTHandelsblatt says Potash may target K+S, Bloomberg reports
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06:01 EDTBHPBHP Billiton to cut 140 jobs in South Australia, Herald Sun reports
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June 24, 2015
10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
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05:31 EDTBHPBHP Billiton upgraded to Neutral from Underperform at Credit Suisse
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June 23, 2015
07:01 EDTBHPWestmoreland board approves purchase agreement for San Juan mine
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June 17, 2015
08:37 EDTBHPBofA/Merrill metals strategist holds an analyst/industry conference call
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