PotashCorp has bolstered its defences against a $39bn hostile takeover bid by BHP Billiton by reporting a 62 per cent jump in third-quarter earnings.
The move came as the Canadian government prepares to rule on whether the offer for the fertiliser group can proceed.
PotashCorp cited an increase in its third-quarter profit and improving industry fundamentals amid strong demand and higher prices for key crop nutrients as evidence of the inadequacy of BHP’s bid.
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