Hands off our potash! Canadians wary of merger bid

AP News
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Posted: Oct 28, 2010 11:37 AM
Hands off our potash! Canadians wary of merger bid

The federal government is to announce whether a Canadian company that controls more than 25 percent of the world's supply of a potash can be taken over by a foreigner.

A mile under the prairies of Saskatchewan lie the world's biggest reserves of potash, a fertilizer ingredient critical to the global food supply.

These days the question of who should own these buried riches is gripping Canadians' attention. Potash Corp. is fighting a hostile bid by Anglo-Australian BHP Billiton, the world's largest mining company, amid charges that a vital Canadian industry is threatened with "a foreign takeover."

A decision is expected by Wednesday.