Share Sinochem hires banks as it eyes rival bid for Potash China’s Sinochem Corp has hired investment banks to look at toppling BHP Billiton’s $39bn (£24bn) bid for Potash Corp, sources said, as the miner warned it would not be caught in an expensive bidding war for the world’s largest fertiliser group.State-owned chemicals group Sinochem has hired Deutsche Bank and Citigroup to evaluate measures to foil BHP’s bid for Potash, sources with direct knowledge of the matter told Reuters. The sources were not authorised to speak publicly on the matter.Both banks declined comment. Sinochem could not be immediately reached for comment on Wednesday, a public holiday in China.Though it was still unclear whether a serious rival bid from a Chinese consortium would emerge, news of the banking mandates underscored China’s willingness to try and stymie the deal with a rival offer or by buying a blocking stake in Potash.Late on Tuesday in Canada, BHP Chief Executive Marius Kloppers said he was unconcerned by the possibility of a rival bid emerging for the Potash, and said the miner would rather drop its bid than raise the offer to a level that exceeded good value for its shareholders.“If somebody offers a price at which we cannot demonstrate value for our shareholders, we’re probably not going to show, and I think that continues to be the case,” Kloppers said in an interview with Canada’s Business News Network.BHP shares in Sydney edged up 0.3 per cent by 3:15 a.m. in line with the broader market. Investors suggested BHP might raise its offer but it was still unclear whether a serious white knight would emerge.“It is all part of the game. BHP has made a bid at $130 and you would suspect that’s not their final bid or otherwise they would have said it is final,” said James Bruce, a portfolio manager at Perpetual Investments, which owns BHP shares.“Our view remains unchanged. As a BHP shareholder, we think they are offering a full price for the assets and a far more value-accretive move by the BHP board would be to buy back their own stock rather than pay up for Potash Corp.”On Tuesday, Potash’s U.S.-listed shares closed at $147.5, a 13.5 percent premium to BHP’s offer.Sinochem had not yet decided whether to proceed with a formal bid and was exploring its options, one of the sources said.Chinese officials have ordered state-owned companies to meet investment bankers to explore options. Sinochem has approached Singapore’s Temasek Holdings to join a consortium that may make a bid, sources have told Reuters. Wednesday 22 September 2010 2:22 am Show Comments ▼ Tags: NULL whatsapp John Dunne whatsapp
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Jobs is gone, but he has brought us a lot of wealth, it is worth us to deeply explore. The market for Steve? Jobs’s financial books not under 20, I think the most worthy of reading is "to live is to change the world: the biography of Jobs", and reveal the development course of the early apple "return to the little kingdom" will take the initiative in time, have historical value, is an important biography of many to follow suit later source of information. I think, "Apple past" and "return to the little kingdom" to read, "Apple storm" style of ridicule can lead us out of Jobs too great figure, let us enjoy the joy of reading.
The patent products belong to the early
ward in his memoirs, Jobs also showed the initial disappointment. He thought of Jobs from the beginning he cheated "Steve and I shared the first business income of $700," then I found that Steve was not what he said but $700, $more than 1 thousand".
"return to the little kingdom" to describe the following story is not Jobs was driven out of the scene of a Apple Corp. Steve’s self willed and self centred style of work offended too many people and made him move quickly into crisis