Global Miner BHP Billiton Ltd
(ASX:BHP) has extended its US$40 billion hostile offer for Canada’s fertiliser company Potash Corporation to 18 November.
Under Canada’s Competition Act, the country’s competition bureau has issued a supplementary information request, meaning that BHP cannot complete its offer until 30 days after it complies with the request for more information.
BHP’s offer to acquire all of PotashCorp stands at US$130 per PotashCorp share.
The miner says it intends to quickly comply with the request, and remains confident that its offer will receive all the required regulatory approvals.
According to The Australian, Canada's Prime Minister, Stephen Harper has said that he will consider Canada’s concerns when investigating BHP’s proposal.
BHP Billiton reported a profit of $15.26 billion in fiscal 2010.
