Potash Corp./Saskatchewan Inc. News

Loading the latest news for Potash Corp./Saskatchewan Inc.

1. 3/19/2012 10:28:00 AM Viterra shares halted on Toronto Stock Exchange pending announcement
   published by Associated Press
   TORONTO _ Trading in shares of grain handler Viterra Inc. has been halted on the Toronto Stock Exchange as the company weighs potential takeover offers. Viterra confirmed last week that it potential bidders have come forward with offers to buy the company and set up an auction process. Viterra, formed by the merger of the Saskatchewan Wheat Pool and Agricore...
   
2. 3/17/2012 12:00:00 AM Like selling off the family jewels
   published by National Post
   Like selling off the family jewels National Post News that foreigners are circling around another important Canadian company Viterra Inc is upsetting and again raises the question as to what is in Canadas national interestThe question of national interest is what Investment Canada must evaluate if foreigners win the bid for Viterra or any Canadian companyBut the question is easily answered Losing any sizable head office to a foreigner is never in the national interestAnd legislation to that effect should be passed immediatelyTo use a military metaphor Canada is at war with the world for living standards Its head offices are its beachheads and strategic institutes Its CEOs are its generals and are answerable and often helpful policywise to governments They are responsible for making their operations profitable but they must also uphold Canadas lawsBut if head offices are moved to another jurisdiction the loyalty and respect for laws moves with them Foreign CEOs or generals can move Canadian operations patents research employees and tax expenditures around the world to suit their purpose and to suit the purpose of the jurisdiction in which they operateThey have no allegiance They usually offer only lower or middle management jobs They support no ballet companies clinics for kids theatre troupes work support programs for disabled Canadians hospital wings for the cities in which they operate They do not confer at think tanks or with politicians to improve their knowledge of the world of businessPut another way allowing a large head office to be acquired allows foreigners to acquire pieces of the countrys upside its living standards reputation opportunity tax base intellectual property and networks This is like selling the family jewelsThose who would defend unfettered buyouts argue that restrictions are contrary to market rules and efficiencies Others may argue that restrictions are unfair considering that Canadian corporations go all over the place snapping up other countries head officesBut markets are not an entity with a vote or a soul They do not operate in a vacuum and operate in a context at the pleasure of the jurisdiction they occupy The context in this case is Canada where too many head offices have been allowed to disappear and no branch plants have ever grown into a world beating head officeThe logical extension of the efficiency is the race to the bottom with no controls over labour standards taxation environmental practice and so onAs for the argument that Canada cannot prohibit head office buyouts when its corporations are doing the same I would counter that this is totally irrelevant Countries do what they must do Besides good luck.
   
3. 3/17/2012 12:00:00 AM Head office location may affect support; Wall's comments
   published by National Post
   Head office location may affect support Walls comments National Post CALGARY Saskatchewan Premier Brad Wall said Friday that an important consideration in any provincial backing of a foreign takeover of grain handler Viterra Inc would be whether the acquirer would maintain a head office in ReginaViterra said earlier this week it had started a process to evaluate bids for the company following a disclosure last week that it received expressions of interest from unnamed parties about a deal Analysts have pointed at several possible biddersThe Wall Street Journal reported last week that Glencore International AG and Cargill Inc were among companies that were interested in possibly buying the company which is based in Regina The Canadian and Saskatchewan governments have so far signaled they wouldnt rule out a foreign investor in the companyBut Mr Walls comments were the first to suggest the provincial government would seek to set conditions for its support for any deal Canadas provincial governments can make recommendations but they.
   
4. 3/16/2012 5:22:00 PM Head office presence in Sask. 'important consideration' in Viterra deal: Wall
   published by Canadian Press DataFile
   REGINA _ Saskatchewan's premier says the future of Viterra Inc.' s head office in Regina would be an important factor in deciding whether any takeover of the grain handler is of net benefit to the province. Viterra has about 550 employees in Regina. A foreign takeover of Viterra would face a review under the Investment Canada Act to see if it would be a net benefit...
   
5. 3/16/2012 5:22:00 PM Head office presence in Sask. 'important consideration' in Viterra deal: Wall
   published by Associated Press
   REGINA _ Saskatchewan's premier says the future of Viterra Inc.' s head office in Regina would be an important factor in deciding whether any takeover of the grain handler is of net benefit to the province. Viterra has about 550 employees in Regina. A foreign takeover of Viterra would face a review under the Investment Canada Act to see if it would be a net benefit...
   
6. 3/16/2012 12:01:00 AM Richardson reportedly in on Viterra bid
   published by Winnipeg Free Press (Canada)
   Winnipeg's Richardson International is reportedly part of a group, including Swiss grain trader Glencore International, readying an offer to acquire Viterra Inc.. London's Financial Times is reporting Glencore International PLC is in advanced discussions with the privately owned Richardson International and Calgary's Agrium Inc. to pursue a joint...
   
7. 3/16/2012 12:00:00 AM Viterra unlikely to turn into a Potash saga; Analysis
   published by National Post
   Viterra unlikely to turn into a Potash saga Analysis National Post Could Viterra Inc be the 2012 iteration of Potash CorpWith the prospect Viterra is going to be officially entertaining a suitor or two in short order the question on the minds of many is whether the potential takeover of the former Saskatchewan Wheat Pool is going to trigger the same debate as the one that took place when BHP Billiton made an unsolicited offer for Potash Corp some 15 months agoThe short answer is to expect a similar debate infused with same level of emotion but one that will ultimately result in a different outcome For a company that goes right to the heart of Saskatchewans roots if your family didnt farm you knew someone who did the opposition to a takeover is bound to be pronounced because many Saskatchewan farmers are also Viterra shareholdersBut Viterra is different from Potash At the nub of the Potash debate was the fact the company boasted the worlds largest reserves of potash The same argument cant be made in the context of Viterra because grain elevators and export facilities dont exactly fall under the definition of a scarce resourceThe potential takeover comes at an arguably opportunistic time Canadas graintrading landscape is only beginning to be reshaped as a result of the historic dissolution of the Canadian Wheat Board which is the worlds largest trader of wheat due to come into effect in AugustWhen the CWB was dissolved there was a good amount of speculation regarding the fact Viterra was well positioned to take advantage of the transition to Canadas grain handling market no longer being centrally controlledIn other words to make an offer now is to do so before Viterra with 35 of Canadas grain supply chain has an opportunity to capitalize on the changes Consolidation within the industry which many have predicted kicked off in January when Richardson International bought grain handling facilities from Great Northern Grain in AlbertaAnother piece to consider is that the federal government despite its promises has not reviewed the Investment Canada rules governing foreign takeovers in the context of defining more closely the determinants of what constitutes national interest or a strategic asset Thus what was in place when Potash was on the hot seat is what remains in force todayKeep in mind too that Ottawa has to balance a fine line on this one reinforcing the perception that Canada is open for business while at the.
   
8. 3/15/2012 6:48:00 PM Viterra establishes process for potential takeover bids from interested parties
   published by Associated Press
   CALGARY _ Grain handler Viterra Inc. has established the rules to review any potential takeover offers, but warned Thursday it cannot guarantee what price it will fetch, or that there will be any deal at all. The website also said that U.S. companies Archer Daniels Midland and Bunge Ltd., as well as Hong Kong- based Noble Group Ltd., were kicking Viterra's tires, but...
   
9. 3/15/2012 4:02:00 PM Grain handler Viterra sets up auction rules
   published by Associated Press
   CALGARY, Alberta-- Viterra Inc. said Thursday that it has set up an auction process to review potential takeover offers for the Canadian grain-handling company, but warned it cannot guarantee a deal will pan out. "The acquisition will complement Viterra's existing grain container operations in southern and eastern Australia," said Dean McQueen, Viterra's...
   
10. 3/15/2012 12:00:00 AM Potential Viterra takeover raises question: Is Canada open for business?
    published by Postmedia News
    Potential Viterra takeover raises question Is Canada open for business Postmedia News Might Viterra Inc be the 2012 iteration of Potash CorpWith the prospect Viterra is going to be officially entertaining a suitor or two in short order the question on the minds of many is whether the potential takeover of the former Saskatchewan Wheat Pool is going to trigger the same debate as what took place when BHP Billiton made an unsolicited offer for Potash Corp some 15 months agoThe short answer is to expect a similar debate infused with same level of emotion but one that will ultimately result in a different outcome For a company that goes right to the heart of Saskatchewans roots if your family didnt farm you knew someone who did the opposition to a takeover is bound to be pronounced because many Saskatchewan farmers are also Viterra shareholdersBut Viterra is different than PotashAt the nub of the Potash debate was the fact the company boasted the worlds largest reserves of potash The same argument cant be made in the context of Viterra because grain elevators and export facilities dont exactly fall under the definition of a scarce resourceThe potential for a takeover comes at a time one could argue is on the opportunistic side Canadas grain trading landscape is only beginning to be reshaped as a result of the historic dissolution of the Canadian Wheat Board which is the worlds largest trader of wheat due to come into effect in AugustWhen the CWB was dissolved there was a good amount of speculation regarding the fact Viterra was well positioned to take advantage of the transition to Canadas grain handling market no longer being centrally controlledIn other words to make an offer now is to do so before Viterra with 35 per cent of Canadas grain supply chain has an opportunity to capitalize on the changes Consolidation within the industry which many have predicted kicked off in January when Richardson International bought grainhandling facilities from Great Northern Grain in AlbertaAnother piece to consider is that the federal government despite its promises has not reviewed the Investment Canada rules governing foreign takeovers in the context of defining more closely the determinants of what constitutes national interest or a strategic asset Thus what was in place when Potash was on the hot seat is what remains in force todayKeep in mind too that Ottawa has to balance a fine line on this one reinforcing the perception that Canada is open for business while at the same time ensuring strategic andor iconic assets remain under Canadian control Potash is one thing but were Ottawa to reject a deal for Viterra the message sent would be entirely differentThe question that needs to be asked in the context of the role of the federal government is what policy levers does it have to review issues such as.
    
11. 3/15/2012 12:00:00 AM Viterra establishes a process to deal with potential takeover
    published by Postmedia News
    Viterra establishes a process to deal with potential takeover Postmedia News May be updatedTORONTO Viterra Inc said it has signed confidentiality agreements with potential buyers and hired financial and legal advisers as it begins a sale processThe stock which was halted Thursday morning ahead of the announcement immediately jumped nine per cent when it reopenedHowever Calgary based Viterra did not confirm reports that it is seeking minimum offers of 16 a share for potential bidders to enter the data room Viterra cautions investors not to rely on these press reports as there can be no assurance that a transaction will occur and that if one does occur there can be no assurance at what price it will be completed the company saidThe stock was halted.
    
12. 3/14/2012 1:16:00 PM Critical Alerts For PotCo of Saskatchewan, CF Industries, Molycorp, Harman, and Ross Stores Released By Seven Summits Research
    published by Investment Weekly News
    Seven Summits Research issues critical PriceWatch Alerts for POT, CF, MCP, HAR, and ROST. Today's PriceWatch Alerts cover the following stocks: Potash Corporation of Saskatchewan, CF Industries, Molycorp, Harman International Industries, and Ross Stores. Seven Summits Investment Research is an independent investment research group, which focuses on the U.S....
    
13. 3/13/2012 9:54:00 AM Will Cargill compete for Canadian grain giant?
    published by Star Tribune (Minneapolis, MN)
    March 13-- Canada's largest grain handling firm, Viterra Inc., is in play, and agribusiness giant Cargill Inc. may be one of its suitors. Viterra, based in Regina, Saskatchewan, announced late Friday that it has received "expressions of interest" from "unidentified third parties." Also Sunday, the London- based Telegraph newspaper reported, without citing sources, that...
    
14. 3/13/2012 12:00:00 AM Ottawa caught in Viterra sale storm; May want to protect 'Canadian champion'
    published by National Post
    Ottawa caught in Viterra sale storm May want to protect Canadian champion National Post Arumoured bid for Viterra Inc Canadas largest grain handling company hasnt even been presented yet and debate is already raging about whether the loss of control of a key Canadian player offers a net benefit to the countryFor those orchestrating the bid its not a good thingAs the 2010 unsuccessful bid by Australias BHP Billiton Ltd for Potash Corp of Saskatchewan Inc demonstrated too much noise around a transaction makes it a political football and less likely to get a pass mark from Investment Canada particularly since Ottawa has yet to spell out what constitutes net benefitIts a fact well understood by Asian companies interested in buying Canadian energy assets They have been cautious about making bids for large companies that may stir a backlash focusing instead on transactions that have remained below the radarViterra has all the ingredients of a controversial dealThe apparent suitor is Swiss Glencore International PLC the worlds largest publicly traded commodities supplier although other companies including US agribusiness giant Cargill Inc are also said to be interested Regina based Viterra with a current market value of about US5 billion confirmed Friday it had received expressions of interest from unnamed third parties for a possible takeoverAs the former Saskatchewan Wheat Pool whose roots date back to 1924 its one of the provinces largest companies It also has a 45 share of the grain handling market and was well positioned to benefit from the end of the Canadian Wheat Boards marketing monopoly Taking control of Viterra would lead to access to Canadas prized canola spring wheat oats and durum wheat suppliesMost will consider it a Canadian champion a company strategically important to Canadas economy and that Ottawa may want to protectThe Conservative government of Prime Minister Stephen Harper has put out plenty of smoke signals that it wants foreign investment as long as Canadian champions are left aloneLast month Mr Harper said he may block takeovers involving critical technology that the government has invested in and hostile.
    
15. 3/13/2012 12:00:00 AM Agricultural assets in demand
    published by National Post
    Agricultural assets in demand National Post A flurry of interest in Canadas largest grain handler Viterra Inc is a hint the worlds grain industry could soon witness a round of global consolidationReports Monday showed a handful of major firms including agribusiness giant Cargill Inc and commodity trader GlencoreInternationalPLC have expressed interest in or bid for Regina based ViterraI think this is a signal that even around the world agricultural assets are now of great interest to these large multinationals said Murray Fulton a professor at the Johnson Shoyama Graduate School of Public Policy at the University of SaskatchewanIts what the governments and corporations are looking at Something like this reaffirms that food is one of the big issues in the world Prof Fulton saidViterra isnt the only grain company benefiting from its potential suitors Australias largest grain handler GrainCorp Ltd saw its stock jump 4 on Monday after earlier hitting a 52 week high mainly on hopes that buyers will also come knocking Even privately owned Gavilon the thirdlargest US grain trader could see some benefit after the firm hired Morgan Stanley in January to explore strategic alternatives including a possible saleThe interest in Viterra comes as the Canadian Wheat Board is set to lose its wheat and barley monopoly in Western Canada this August Parliament passed a law ending the monopoly last year allowing companies like Viterra to buy grain directly from Western farmers potentially boosting profits as a resultAny company that buys Viterra would gain access to Canadas massive canola spring wheat oats and durum wheat supplies given that the country is the worlds top exporter of each cropInternational interest in Viterra has not come without criticism On.
    
16. 3/12/2012 11:21:00 AM Grain handler could renew dispute on foreign owners
    published by International Herald Tribune
    A takeover of Viterra, a Canadian grain handling and marketing company, would be the latest realignment after a decision to end a 76-year-old monopoly on export sales of Canadian wheat and barley.
    
17. 3/12/2012 12:01:00 AM Glencore in $5bn offer for Viterra
    published by Australian, The
    SWISS commodities trader Glencore has reportedly approached Canadian grain handler Viterra in a $5.2 billion bid that will have implications for the Australian grain market. Glencore, which has also launched a pound stg. 28 bn scrip takeover of miner Xstrata that would result in Xstrata chief Mick Davis running a merged company, had made a pound stg. 3.5 bn bid...
    
18. 3/12/2012 12:00:00 AM Glencore targets viterra; Commodities giant has bid $5.5-billion, report says
    published by National Post
    Glencore targets viterra Commodities giant has bid 55 billion report says National Post A protectionist backlash could be on the way after Glencore International PLC the worlds largest commodities trader reportedly made a 55 billion bid for Viterra Inc Canadas dominant grain handler and a key support for the Saskatchewan economyThe Sunday Telegraph first reported on the approach saying Glencore chief executive Ivan Glasenberg is looking to expand his companys grain business even as it works toward purchasing Swiss metals and coal producer Xstrata PLCShares of Regina based Viterra jumped 24 on Friday trading on the Toronto Stock Exchange after the company issued a statement saying it had received expressions of interest from third partiesThe statement directly contradicted remarks made to BNN by Viterra chief executive Mayo Schmidt just a few hours earlier which claimed the company had not been approached by anyone and did not mention any of the potential suitors by nameHolly Gibney a Calgary based spokeswoman for Viterra declined to comment when contacted by the Financial Post on SundaySimon Buerk spokesman for Baar Switzerland based Glencore also declined to commentEarlier known as Saskatchewan Wheat Pool Viterra has played a critical role in supporting that provinces agricultural boom since the 1900s While its roughly 5 billion market capitalization is less than one seventh the size of Potash Corp of Saskatchewan Inc Viterra rivals its provincial compatriot in overall importance to the Saskatchewan economyAustralian mining giant BHP Billiton Ltd had a 40 billion hostile takeover attempt of Potash thwarted by the federal government in 2010 after then industry minister Tony Clement determined the deal would be of no net benefit to CanadaIt was only.
    
19. 3/11/2012 7:28:00 PM WSJ: Viterra Draw Interest Of Possible Buyers
    published by OsterDowJones
    Mar 11, 2012-- Glencore International AG and Cargill Inc. are among companies that are interested in possibly buying Canadian agribusiness heavyweight Viterra Inc., according to people familiar with the matter, as a wave of consolidation in the industry swells. Viterra disclosed Friday that it received "expressions of interest" from unidentified third...
    
20. 3/6/2012 12:01:00 AM Top Ten Energy M&A Trends In Canada
    published by Mondaq Business Briefing
    Stikeman Elliott LLP Top Ten Energy M&A Trends In Canada 06 March 2012. Despite uncertainty and slow growth in the US and Europe, Canada has continued, for the most part, to post impressive economic results. In recognition of this economic strength, Forbes recently ranked Canada as the best country in the world in which to do business.
    
21. 3/6/2012 12:00:00 AM Markets down on china outlook cut
    published by National Post
    Markets down on china outlook cut National Post A possible hitch in the momentum of Chinas economy sent global markets tumbling on MondayIn Toronto the benchmark S&PTSX composite index fell 11987 points or 095 to 1252395 after China cut its forecast Seven of the 10 subindexes declined with commodities the hardesthit sectors materials fell 26 and energy dropped 142Canadian gold producers took a hit on Monday as the price of gold fell US590 to US170390 an ounce Barrick Gold Corp ABXTSX shares fell 105 to 4638 and Goldcorp Inc GTSX lost 189 closing at 4765The price of crude oil rose US2 to US10672 a barrel but Canadian.