13 October 2010 16:02 [Source: ICIS news]
The pledge comes as PotashCorp is seeking out alternatives to BHP Billiton’s hostile $40bn (€29bn) takeover bid for the world's largest fertilizer company.
Furthermore, PotashCorp said bidders should commit to developing a strong aboriginal workforce, as well as to supporting community programmes and local purchasing.
Separately, CEO Bill Doyle said in a letter to employees that talks with potential alternative bidders were ongoing, but he did not disclose details.
Recent media reports said a Canadian pension fund had approached
Earlier, an advisory report to the
The report by the Conference Board of Canada said state-controlled Sinochem, as a buyer of potash, had a strong incentive for low potash prices. As such, its management of PotashCorp would not be guided by the same businesses and profit motives commercial firms typically pursue, thus hurting the province's royalty revenues from its potash resources, it said.
PotashCorp’s share was price up marginally by 0.09% at $147.30 in early morning trading in
($1 = €0.72)
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