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China Eyes Deal to Block BHP's Bid for PotashCorp

12:19 PM MDT | September 3, 2010 | Ian Young

Sinochem (Beijing) is in discussions with banks including Citigroup, HSBC, and Morgan Stanley to explore possible plans to block BHP Billiton's (Melbourne) $38.6-billion hostile bid for Potash Corp. of Saskatchewan (PotashCorp), reports say. State-owned Sinochem has been instructed by the Chinese government to begin the discussions because the government is concerned about the proposed deal's implications for potash prices and supply. China is the second-biggest importer of potash after India. The talks could cover Sinochem, in partnership with China's sovereign...

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