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Message: BHP to Buy Athabasca Potash for C$341 Million

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BHP to Buy Athabasca Potash for C$341 Million

posted on Jan 28, 10 11:34AM

Dear shareholder,

In an effort to keep you up to date on all pertinent information regarding the resource sector please see the attached article regarding BHP Billiton’s announcement that they have agreed to acquire Athabasca Potash Inc.

Buying the Saskatoon, Saskatchewan-based company gives BHP the Burr project, which is adjacent to BHP’s Jansen project. Melbourne-based BHP is looking to diversify into potash production after prices for the raw material soared in 2008 as farmers sought to raise crop yields.

Regards,

AGORACOM Investor Relations

BHP to Buy Athabasca Potash for C$341 Million

By Firat Kayakiran

Jan. 28 (Bloomberg) -- BHP Billiton Ltd., the world’s largest mining company, said it agreed to acquire Athabasca Potash Inc. for about C$341 million ($322 million) to add to assets in Canada containing the crop nutrient potash.

BHP will pay C$8.35 a share, 25 percent more than the closing price Athabasca’s stock in Toronto yesterday, Athabasca and BHP said in a joint statement today.

Click here to read article in its entirety.

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