K+S rejects takeover bid by PotashCorp

German potash company K+S is rejecting a takeover bid by PotashCorp of Saskatchewan (PCS) saying the offer was too low.

“The proposed offer of 41 euros per share doesn’t reflect the value of K+S and is not in the best interest of the company,” the Kassel-based company said in a statement.

PCS confirmed on June 25 it had made a “friendly” bid to acquire the compmany’s assests, which include the Legacy Mine being constructed near Bethune.

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