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K+S asks German government to help fend off takeover-Handelsblatt

Published 2015-07-29, 02:14 a/m
K+S asks German government to help fend off takeover-Handelsblatt
SDFGn
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POT
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FRANKFURT, July 29 (Reuters) - German potash and salt miner
K+S SDFGn.DE has turned to German economy minister Sigmar
Gabriel for help against an unwanted takeover approach by
Canadian rival Potash Corp POT.TO , and has discussed the
option of German state bank KfW taking a stake in K+S, a
newspaper reported on Wednesday.
K+S earlier this month rebuffed Potash Corp's 7.9 billion
euros ($8.65 billion) proposed bid of 41 euros per share as too
low and suggested the suitor was planning to shrink the company.
A K+S spokesman said last week the German company had rejected a
new attempt by Potash to entice it into takeover
talks. ID:nL8N0ZI34D ID:nL5N1013XE
KfW could take a blocking minority stake but Germany's
economy ministry and finance ministry are doubtful that they
could come up with a "common-good" justification for such an
intervention, Handelsblatt cited people familiar with the matter
as saying.
The paper said that K+S declined to comment while the
economy ministry only said that there had been several talks
with the company.

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