FRANKFURT, Aug 7 (Reuters) - German salt and fertilizer
company K+S AG SDFGn.DE said on Friday that Potash Corp of
Saskatchewan's POT.TO new offer still does not reflect the
true value of the company and that commitments proposed by
PotashCorp "do not provide reliability".
Earlier on Friday the company had said in statement that
Potash again had sent an unsolicited letter to its management
and supervisory boards, which included a proposal for a
"business combination agreement" based on an unchanged price of
41 euros ($44.57) per share.
"Jointly with the Supervisory Board we are still convinced
that the proposed price of 41 Euro per share does not at all
reflect the fundamental value of K+S," the company's Chief
Executive Norbert Steiner said in the statement.
"This is true for our existing business but in particular
for the value contribution of our Legacy Project. For this
reason alone, also the new proposal of Potash Corp is not in the
best interest of the company."
($1 = 0.9200 euros)