BHP Billiton Notes Announcement By Canadian Minister Of Industry
4 November 2010
BHP Billiton (ASX:BHP/LSE:BLT/NYSE:BHP and BBL/JSE:BIL) has noted the announcement today by the Canadian Minister of Industry Tony Clement that he is not satisfied at this time that the BHP Billiton offer to acquire all of the issued and outstanding common shares of Potash Corporation of Saskatchewan Inc. ("PotashCorp") (NYSE:POT/TSX:POT), together with any associated rights issued and outstanding under the PotashCorp Shareholder Rights Plan, (the "Offer") is likely to be of net benefit to Canada.
The Minister has advised BHP Billiton that the company has 30 days or such further period as may be agreed to make further representations and undertakings to the Minister with respect to the Offer. At the end of that time period, the Minister will notify BHP Billiton whether he is or is not satisfied that the Offer is of net benefit to Canada.
BHP Billiton is disappointed, but continues to believe that the Offer is of net benefit to Saskatchewan, New Brunswick and Canada. BHP Billiton will continue to cooperate with the Minister and the Investment Review Division of Industry Canada and will review its options.
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