Potash Corp withdraws $8.7-billion bid for K+S Add to ..

October 5, 2015 4:37 AM

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Potash Corp of Saskatchewan Inc. killed its $8.7-billion (U.S.) proposal for K+S AG, saying its German rival’s lack of cooperation and the weaker commodities market no longer made a merger attractive.

Potash Corp, the world’s largest fertilizer producer, had sought to meet with K+S’s management for months but was rebuffed. K+S said the offer undervalued its business and feared Potash Corp would cut jobs and production – an assertion the Canadian company denied.

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