No sale for K+S

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Published: October 8, 2015

NEW YORK/FRANKFURT (Reuters) — Potash Corp has dropped its $11.57 billion offer for German potash producer K+S , citing a decline in global commodity and equity markets and a lack of engagement by K+S management.

K+S shares dropped 24 percent after Potash announced its decision.

Potash wanted K+S partly for its Legacy mine, now under construction in Saskatchewan, but K+S considered the bid under-valued. Weak demand from China has pressured all potash company share prices lower in recent months.

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