Saskatchewan Premier Brad Wall reiterated in Toronto 30 am firmly opposed to the Australian company BHP Billiton, Potash Corporation of Saskatchewan hostile takeover, and hard so that the federal government riding a tiger.
Wal-Mart in Canada at the Economic Club luncheon to above expressed. He stressed that potash is a strategic resource is very important to Canada. BHP Billiton acquisition of Potash Company of Canada will not be able to bring net benefits.
Wall said in an interview: "must be rejected offer. There are three reasons: First, we believe that transactions do not meet the country's economic performance; Second, the federal government rejected the deal is not free trade with Canada to the paradox; Finally, we that the feasibility of this acquisition by the provincial government decision. "
Wall said the Manitoba Province of Saskatchewan Greg Salinger against BHP Billiton's acquisition of support. Alberta and Quebec Province Governor 埃德施特默 Xialei also in earlier to oppose the acquisition team. He again urged the federal government rejected BHP Billiton's acquisition requirements, protection of Canada's mining production.
In response, the Canadian Federal Industry Minister Tony Clement said in the afternoon in Ottawa, the federal government will not extend the review of the acquisition time will be announced in the November 3 whether to approve the acquisition of BHP Billiton's Potash company's decision.
Potash fertilizer as a crop fertilizer, food production is essential. Saskatchewan's potash fertilizer production accounts for half of global output, while nearly half of Saskatchewan's potash fertilizer company has produced. Australian mining giant BHP Billiton made in August this year to 38.5 billion U.S. dollars to buy Canadian fertilizer company, but the bid was opposed to the provincial government of Saskatchewan. The province that this transaction will be the province of employment, tax revenue harm.
Last week, Sa Clement has made clear that the provincial government to resolutely resist the acquisition of BHP Billiton's Potash Corporation of Saskatchewan requirements, there is no room for discussion. Saskatchewan Energy and Resources Director of the Office Boyd and Clement in Ottawa on Tuesday held a closed-door meeting, rejected the Federal Government of Saskatchewan provincial government and BHP Billiton to conduct consultations on the proposed acquisition.
But the final decision on the deal in the hands of the federal government. Canada's federal government said it would under the "Investment Canada Act" provisions, Canada will review the transactions by the benefits brought about the end to make independent judgments. However, the current dilemma the federal government, the final decision can neither damage advocate of free trade in Canada's reputation to attract foreign investment, but also protecting the interests of domestic resources industry. Meanwhile, the Conservative government's violation of the federal government should also take into account the wishes of the Saddam government political consequences. (Ling Shan)