Technology Slice Blog

BHP Billiton Doesn't Get Potash - Canada's patience has snapped. The country with a reputation for welcoming foreign capital has closed the door. Last night, the Canadian government blocked BHP Billiton's $39bn (£25bn) offer for Potash Corporation, the Saskatchewan-based fertiliser company. Canada's industry minister said that he felt the offer from the world's largest mining company - nicknamed the Big Australian - would not ' be of net benefit' to Canada. It is only the second time that the Canadian government has blocked a takeover. However, it is third time unlucky for BHP Billiton, which has had all of its big strategic plays slapped down in the last two years. First it was the $66bn attempt to buy Rio Tinto, then the proposed merger of Rio and BHP's iron ore assets was dissolved as it became clear it would not get regulatory approval, and now this. According to insiders, Ottawa's decision was a shock to BHP. Marius Kloppers, chief ...