EuroWeek View: Was BHP’s blocked bid a one-off?
Bankers had better hope that protectionism is not here to stay. BHP Billiton’s banks had their worst fears confirmed on Monday when the company aborted its $39bn bid for PotashCorp. But rivals will hardly be gloating. Instead, they will hope that the Canadian government’s decision to block a foreign takeover will not be copied by other governments.
Anglo-Australian miner BHP Billiton on Monday confirmed that its $39bn bid for Potash Corp of Saskatchewan was off after it failed to convince the Canadian government that the deal would be of “net benefit” to the country.
The announcement dealt a serious blow to the capital markets. BHP had
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