After a takeover bid by rival fertiliser producer PotashCorp was withdrawn last week, shares in K+S Kali have collapsed by almost 30% in the past 10 days.
The potash market may see downward pressure in the near term.
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Earlier this month, Canadian fertiliser manufacturer PotashCorp withdrew its takeover bid for German rival K+S Kali. PotashCorp made an initial bid of €40 per share for K+S Kali in June, valuing the group at more than €7.5bn. However, after the initial offer was rejected by K+S management and no further progress could be made, PotashCorp withdrew its takeover bid.
Shares in K+S have plummeted by almost 30% over the last two weeks, wiping more than €1.8bn off the market capitalisation of the group. In a parting shot at K+S, PotashCorp chief executive Jochen Tilk warned that storms may be coming for K+S as the potash market may see downward pressure in the near term due to weak global economic growth and reduced supply discipline.
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Earlier this month, Canadian fertiliser manufacturer PotashCorp withdrew its takeover bid for German rival K+S Kali. PotashCorp made an initial bid of €40 per share for K+S Kali in June, valuing the group at more than €7.5bn. However, after the initial offer was rejected by K+S management and no further progress could be made, PotashCorp withdrew its takeover bid.
Shares in K+S have plummeted by almost 30% over the last two weeks, wiping more than €1.8bn off the market capitalisation of the group. In a parting shot at K+S, PotashCorp chief executive Jochen Tilk warned that storms may be coming for K+S as the potash market may see downward pressure in the near term due to weak global economic growth and reduced supply discipline.
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