BHP Billiton has officially reported just how much its pursuit of Potash Corp. of Saskatchewan Inc. cost the firm financially: $314-million (U.S.).
The figure was included in the 'exceptional items' portion of its latest financial statements, which were released Tuesday for the second half of 2010. The figure puts everyone's guesses to rest, though there is still some speculation about how much bankers and lawyers lost in potential fees.
The company ate $240-million for breaking a $45-billion bank debt facility and the remaining $74-million is associated with investment bankers', lawyers' and accountants' fees, printing expenses and other charges. BHP hired JPMorgan, TD Securities, Banco Santander, Barclays, BNP Paribas, Royal Bank of Scotland Group and CIBC World Markets.
Despite the official figure, an intangible cost is still up in the air. No one knows for sure what effect the failed bid has had on BHP CEO Marius Kloppers now that he has two failed blockbuster deals under his belt. Still, he says he has no regrets.