Potash One Inc Up 24%, But Off New Yr High Touched Earlier on German bid; Leads Other Potash Stocks Higher
Potash One Inc (KCL.TO) remains up by 24% - albeit off a new year high of $4.62 touched earlier - after Germany's K+S AG made a $434 million or $4.50 per share offer, a 31% percent premium to the average price over the previous 10 sessions.
The offer comes days after a near US$39 billion bid by BHP Billiton for Canada's dominant player Potash Corp (POT.TO) was blocked by the Canadian government.
Over on the TSXV, Allana Potash (AAA.V), Passport Potash (PPI.V), Encanto Potash (EPO.V) and Western Potash Corp. (WPX.V) are all higher and heavily traded - possibly on the prospect that they might be among the next potash-related stocks to draw takeover interest.
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