PotashCorp of Saskatchewan, the Canadian fertiliser company and the world’s largest potash producer, has approached its German rival, K+S Kali, about a possible takeover bid. Industry sources claim that PotashCorp is offering €40 per share, valuing K+S at more €7.5bn.
K+S is based in Kassel in central Germany and is Europe’s largest potash supplier. The company said it is currently assessing its options after receiving the proposal from PotashCorp. Any transaction would be one of the largest in the history of the fertiliser industry and further consolidate an already concentrated sector.
Prior to the announcement, K+S shares stood at €28.55 giving the company a market capitalisation of more than €5.4bn. However, since Thursday K+S shares have soared by more than 30% adding more than €2bn to the group’s stock market value.
ADVERTISEMENT
Shares in PotashCorp, which has a market capitalisation of €23.7bn, were up 4.3% on the back of the announcement.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
PotashCorp of Saskatchewan, the Canadian fertiliser company and the world’s largest potash producer, has approached its German rival, K+S Kali, about a possible takeover bid. Industry sources claim that PotashCorp is offering €40 per share, valuing K+S at more €7.5bn.
K+S is based in Kassel in central Germany and is Europe’s largest potash supplier. The company said it is currently assessing its options after receiving the proposal from PotashCorp. Any transaction would be one of the largest in the history of the fertiliser industry and further consolidate an already concentrated sector.
Prior to the announcement, K+S shares stood at €28.55 giving the company a market capitalisation of more than €5.4bn. However, since Thursday K+S shares have soared by more than 30% adding more than €2bn to the group’s stock market value.
Shares in PotashCorp, which has a market capitalisation of €23.7bn, were up 4.3% on the back of the announcement.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS