Canadian Industry Minister Tony Clement said the plan of 390 billion acquisition of Canadian economic activity will greatly enhance the level and nature of the extent of not very satisfactory.
"BHP Billiton is a very successful large-scale mining companies, but their experience in mining and sale of potash Potash respects not comparable," he told reporters in Toronto.
"My concern is that if the successful merger of BHP Billiton, will damage the industry, the benefits to the Canadian people."
In BHP Billiton formally renounced the acquisition and announced stock repurchase plan to restart, Clement made the remarks.
Canada, November 3 to prevent the acquisition of BHP Billiton Potash, and BHP Billiton to a month to prove that the acquisition of Canada's favor.
BHP Billiton said it will continue to be engaged in Canada, Jansen potash project, mine is the world's largest potash mine alone.
Clement suggested that the acquisition of BHP Billiton, if successful it may be delayed Jansen project development, this possibility might also be a factor.
"Simply put, our concern is that the bid would mean that the case of other capital expenditures, so the result will be more harm than good," he said.
Many people believe that it will withdraw from BHP Billiton Canpotex potash marketing organizations and the expected full-load operation is another key to successful mergers and acquisitions. Clement seems to confirm this speculation.
Clement said, Potash "has successfully entered the infrastructure and marketing system, you can make it global sales."
"In the plans or objectives, BHP Billiton did not show that the investment program will increase its global sales."
- Compile Li Shuang; revision Gao Qi
Reuters new e-mail products and services - the "Daily Finance Fair," so that you receive every morning the essence of the Reuters Global financial information and the latest investment trends. Please click here (here) opened this service.
No comments:
Post a Comment