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Sinofert 'closely watching' BHP bid for Potash Add to ...

China's largest fertilizer distributor Sinofert Holdings Ltd. is "closely watching" BHP Billiton PLC's $38.6-billion (U.S.) takeover offer for Potash Corp. of Saskatchewan Inc., and believes the potential deal will have a big impact on the company, a top executive said on Thursday.

Speculation lingers that Sinofet's parent Sinochem may join a rival bid to counter BHP Billiton's takeover offer for Potash Corp.

Sinofert chief executive officer Feng Zhibin did not immediately comment on speculation that Sinochem may be involved in a bid for Potash Corp.

BHP Billiton's hostile bid for Potash Corp, the world's top potash producer, has triggered fears that if BHP succeeds it will ditch the prevailing annual contract potash pricing system in favour of a market-based approach.

"No matter what, Sinochem and Sinofert are closely watching Potash," Mr. Feng told reporters at a results briefing on Thursday.

"Potash is a major shareholder in Sinofert, and it will have a big impact."

 
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