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Dealbook: Potash gets a $130 bid

WASHINGTON - JANUARY 13:  (L-R) Lloyd Blankfei...
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BHP Billiton came calling as the dealbook got real busy increasing prospects for a rosy 2010 second half for Goldman Sachs and J P Morgan an dthe unlikely winner in many deals – Morgan Stanley. But back to the chalkboard, Advantage zyaada finds a cute bite to the new bids from BHP Billiton going public with $130 a share bid for Potash fertiliser witha market value of $39 billion while Potash management got out news saying it intends to find friends in China. Sinochem which owns a $3.8billion Sinofert, Chalco and ChemChina figured among speculative reports ( we got from the ET ) as China is flush with equity funds in CIC and the Pension funds as well. It seems China needs the fertiliser!

Meanwhile Rio tinto, the other BHP Billiton adversary has an ongoing JV with BP Billiton to set up a $116bn Iron Ore Plant. Meanwhile ahead of the BHP bid of $130, Potash is trading at $148. Talk about making merry when the queen is drunk!

Meanwhile India is busy on the shale gas front, GAIL and Oil India forming a JV to bid for Intenational shale assets . Shale gas has exploded(pun unintended) on the horizon since KMan has found a way to ddig horizontally for the gas, Marcellus shale plate in the US being the most sought after example with 200000 acres under Mukesh Ambani’s belt with Pioneer and Atlas. BPCL is purchasing and funding exploration in Australian shale to $20 million. Korea has funded its national Oil company KNOC for international energy assets as well. KNOC bid for British Dana Petroleum with a $2.6 billion bid. British Petroleum is trying to recover in the meantime with an open attack against rig operator Transocean which it says is trying to run away fronm the responsibility for Deepwater Horizon’s breakdown in the Gulf

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This entry was posted on August 21, 2010 by in Amitonomics, Emerging Markets, Private Equity, US and tagged , , , .

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