Potash Corp. Says BHP Has Been Cold-Calling Customers

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Potash Corp. of Saskatchewan Inc. said BHP Billiton Ltd. has been cold-calling some of its customers in bid to “undermine” the world’s biggest fertilizer maker as part of a $40 billion hostile takeover bid. “We can only assume that BHP Billiton’s purpose is to sow seeds of doubt and confusion about the future of Potash Corp.,” the Canadian company said yesterday in a letter to customers, lodged in a regulatory filing.

“We consider this contact to be inappropriate and highly unethical.” BHP spokeswoman Fiona Martin said she wasn’t immediately able to comment. “It’s a move by BHP to try and get some action happening,” Peter Rudd, director of mining and resources at Balnave Capital Group, said in Melbourne. “It would be a coordinated action and one of a number they’d be adopting, including presumably talking to major shareholders. This is a sign that BHP are serious.”