Former premier of Saskatchewan, Brad Wall, says there are parallels between mining big Glencore PLC’s hostile takeover try of Teck Assets Ltd. and BHP Billiton’s failed 2010 pursuit of its province’s iconic Potash Corp.
Underneath Wall, the Saskatchewan authorities fought an aggressive marketing campaign to close down Potash Corp. Canadians to maintain within the face of a $40-billion hostile bid by the Australian mining big.
Wall declined to say whether or not he believed Teck ought to stay Canadian, saying he didn’t know all the small print of Glencore’s provide.
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However he says he’s glad his authorities has taken the stand it has on Potash Corp. took in, including “some issues are price preventing for.”
The federal authorities below former prime minister Stephen Harper has lastly blocked BHP’s takeover try of Potash Corp. blocked, saying the deal didn’t present a “web profit” to Canada.
Present opposition chief Pierre Poilievre mentioned the federal government ought to block any Teck-Glencore merger. Business Minister Francois-Philippe Champagne has not stopped a dedication, however has spoken publicly about Teck’s worth as a Canadian firm.
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