BHP Billiton added to abandon the acquisition of K

The failure to put aside 350 million U.S. dollars acquisition costs

* Jansen still plans to develop potash project in Canada

Reuters, Melbourne, November 15 - --- Australian mining giant BHP Billiton (BHP.AX: Quote) to give up to 39 billion U.S. dollars acquisition of the Canadian Potash Corporation (Potash) (POT.TO: Quote) of the program, which was originally a global scale this year the biggest deal. BHP Billiton said on Monday, will be returned to investors through buybacks 4.2 billion.

BHP Billiton recognizes major acquisitions in the third consecutive failed. Part of the company's shareholders to demand the return of capital to the voice of compromise, which means the other large acquisitions is limited.

"For such as BHP Billiton's large companies, I think the regulatory environment is very difficult," Pengana Capital, a portfolio manager Tim Schroeders said.

The Government of Canada on November 3 to prevent BHP Billiton the world's largest fertilizer maker takeover, BHP Billiton given one month to prove that the acquisition would be beneficial to Canada.

"Unfortunately, although the acquisition of all necessary plans to antitrust review, but we failed to obtain the" Investment Canada Act, "approved, it decided to withdraw the acquisition plan," BHP Billiton CEO Kloppers said in a statement.

BHP Billiton will provide the acquisition of Potash cost of $ 350,000,000 out of which 70% reflects the preparation for the transaction financing costs 45 billion U.S. dollars.

Kloppers has said BHP Billiton more willing to put money into them to project development and acquisition, rather than returned to shareholders.

The company said it would continue to engage in projects in Canada, Jansen K.

"We remain committed to invest in Canada, plans to occupy the Saskatchewan potash industry, a large share," Kloppers said