Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

Potash Corp position on German company K+S unchanged - CEO

Published 2015-12-02, 09:55 a/m
© Reuters. Potash Corp position on German company K+S unchanged - CEO
SDFGn
-
POT
-

By Rod Nickel
Dec 2 (Reuters) - A recent report that Potash Corp of
Saskatchewan POT.TO is preparing a new takeover bid for German
potash producer K+S AG SDFGn.DE is an unfounded rumor, Chief
Executive Officer Jochen Tilk said on Wednesday.
Potash POT.N , one of the world's biggest producers of the
crop nutrient, withdrew its $8.9 billion bid for K+S in October.
"We did withdraw and what we said in our press release two
months ago is the same position we have today," Tilk said at a
Citi investor conference in New York.
A recent German report that Potash is preparing a new bid
for K+S "was a rumor, nothing more," Tilk said.
Potash Corp expects to generate more cash as it wraps up a
longtime expansion program next year.
Tilk said the company is considering whether to reduce its
dividend and instead return cash to shareholders by buying
stock.
"Some people have asked, and I think it's a valid question,
'why wouldn't you reduce your dividend and buy back stock?'"
Tilk said. "Of course we're looking at that."
As of now, the company has decided to maintain its dividend,
but it is looking at whether there are better ways to return
cash to shareholders, Tilk said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.