OMG - BHP has been rejected!

[whosinpower]

BHP - a global mining giant wanted and tried to take over Potash Corp with a hostile takeover.

In our own little province of Saskatchewan, this has been a political football. The province rejected it on the basis of net benefit to the province - however, it is the Fed's that have the ultimate decision whether or not to allow the takeover to proceed.

I think the ground is shaking or something. For a CONSERVATIVE government of Steven Harper to turn down a big biz offer.....gosh that is downright....I am in shock - total shock.

Something big changed in the last few hours....this morning the news media were stating that it was BHP that was going to give the government of Canada's decision....and now that did NOT happen....and Clement did it instead.

[shockedcanadian]

1. Yeah the squeeze is on...

I don't have an opinion one way or another about the sale of this, as I understand alot of it is already foreign owned. What I can surmise is that it will still be sold, but the squeeze is on for more cash. Nothign wrong with such an approach especially since it is a business that was developed with tax dollars.

I just hope and pray here in Ontario the LCBO (liquor store) and OLG (lottery) is not sold off. These are cash cows and to sell them off would be a ridiculous decision to simply raise some short term funds.

[CHIMO]

2. Too Much Harper

Drivel.

It is a Canadian listed company.

Majority of directors are Canadian.

Canadians hold the largest segment of stocks.

Canada's Prime Minister Says Potash Corp. an `American-Controlled' Company

Potash Corp.’s Canadian shareholders own 49 percent of the company, while U.S. investors own 38 percent of the shares and investors from other countries hold the rest, according to a Conference Board of Canada report prepared for Saskatchewan.

http://www.bloomberg.com/news/2010-10-20/canada-s-prime-minister-says-potash-corp-an-american-controlled-company.html

[glinda]

5. My big concern is any new alliance Canada's Government will forge

with our newly elected oil drilling Republicans that the American people stupidly voted in. Well maybe voted in as we have problems with many of our voting machines.
Be careful Canada. They are coming for your resources, your health care and your souls.

[CanSocDem]

3. I'm shocked....

...that that weasel Brad Wall is defending Saskatchewans public interest. I am not convinced he's sincere however.

.

[whosinpower]

4. I think he is planning on bigger things than premiere nt

[daleo]

6. There is still 30 days for BHP to sweeten their deal

So I am awaiting that deadline before I believe the buyout is really over.

In my opinion people are becoming more and more dissatisfied with the dogma of global capitalism. The fact that conservative voters in Saskatchewan are against this deal is evidence of that. In principle, Reform types ought to be in favor of the deal, since business is supposed to come first with them.

I think a lot of the tea party frustration in the U.S. is also related to a backlash against global capitalism, though it is poorly channeled and/or misdirected.