08.11.2010 • News

Potash Rights Plan Hearing Delayed Indefinitely

Saskatchewan's securities watchdog agreed on Thursday to BHP Billiton's request to adjourn indefinitely a Nov. 8-9 hearing on Potash Corp's shareholder rights plan.

The Saskatchewan Financial Services Commission announced the news on its website. It did not announce any new hearing date.

The hearing was scheduled to be held on Anglo-Australian miner BHP's application to strike down Saskatchewan-based Potash Corp's shareholder rights plan, a key defense in the fertilizer company's attempts to fight off BHP's $39-billion hostile takeover attempt.

The Canadian government blocked BHP's bid on Wednesday but the decision is not final until a 30-day review period ends.

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