In an attempt to thwart a $39-billion hostile takeover bid by BHP Billiton, Potash Corp has turned to China to try to find a white knight, according to the Globe and Mail. The Canadian miner is hoping that China’s worries over BHP getting control over the global potash market will lead to a consortium of companies submitting a rival bid, said the Globe.
“It is a viable option,” an unnamed source close to Potash Corp told the Globe, adding the venture posed some significant challenges in finalizing a consortium’s structure. The bid being considered would include some major capital from a Chinese resource company or investment fund, with smaller contributions from international sovereign wealth funds and possibly Canadian players such as pension funds. *View article*
Smartphone maker Motorola, looking to boost its social networking content, has acquired German software company Aloqa GmbH, according to Reuters. The privately held Aloqa, which has developed a location-based social software, has joined Motorola’s Mobility division, which comprises the company’s set-top box and cellphone businesses. Terms of the transaction were not disclosed. *View article*
In a move that may portend well for the passage of carbon emissions legislation in the U.S., power company NRG Energy said it would buy privately held cleantech company Green Mountain Energy for $350 million in cash, according to Reuters. *View article*