BHP does not think having to raise its offer Potash
BHP Billiton Sunday downplayed the likelihood of an increase in its offer to purchase approximately 30 billion euros in Potash saying he chose to launch its offensive, a period during which her main rivals are weak.
The mining group finance director, Alex Vanselow, interviewed by Australian TV channel ABC, has said the group had also taken into account to improve access to credit.
"The opportunity that Potash was the fact that we are now in a situation such that our balance sheet allows us to increase the funds necessary to buy as valuations and that are, in essence, if we look at the situation of competitors, they are not in the same situation as us, "he said.
"So, after taking into account all these factors, we find that the time is right to make an offer."
BHP on Wednesday its biggest first-half profits for two years and its debt ratio should not exceed 6%, which puts him in a strong position to raise its bid if necessary.
Potash was trading action this weekend 14% above the offer price, investors believed that BHP will raise its prices to convince their target or another pretender to the redemption will occur.But Alex Vanselow said that BHP did not need to increase its offer to $ 130 per share.
"There is an offer on the table, why we would enter into competition with ourselves?" He concluded.
Rio Tinto, BHP's chief competitor in the world, is considered poorly positioned to embark on the adventure because of the huge debts incurred to buy Alcan three years ago.Since this operation of 38 billion dollars, Rio says he will only consider acquisitions of limited size.
As for the Brazilian Vale, that also shows its ambitions in potash, he assured not to be interested in Potash.
Some observers believe that cons-offer could come from China, world's largest importer of potash, one key component of fertilizer.
Thursday Sinofert Holding, the largest distributor of fertilizer Chinese expressed concern about the proposed BHP but did not specify whether its parent company, Sinochem, was considering a bid-cons.
* Data on StarMine potash producers:
r.reuters.com/meh36n
* Data on StarMine major mining groups: r.reuters.com/dyc27n
* Graph of recovery of the offer from BHP:
r.reuters.com/ruv65n