Vale rejects rumours of Potash Corp. takeover

Aug 25, 2010- 11:11 AM

By: Sudbury Northern Life Staff

Vale has rejected speculation that it is interested in Potash Corp. by denying that it has made any moves to buy any fertilizer company, according to media reports.

"Vale SA informs that rumors about a bid to acquire a fertilizers company or about negotiations with the purpose of making a bid to acquire such company are totally unfounded," the Brazilian mining giant said reportedly said in a brief statement.

The Wall Street Journal reported in an Aug. 24 article that Potash has formally rejected BHP Billiton's hostile bid made last week, and said it has a number of other potential suitors.

Among those, there has been speculation that Vale was one of those taking a closer look at the Canadian company.

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