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First to the harvest

The pursuit and subsequent breakdown of a deal between Potash Corp of Saskatchewan and K+S has given some insight into the new dynamics at play in the potash market. While the German company’s board will have some tough questions to answer from some of its investors over the next few months – backed up by the 25% share price fall it experienced after news hit the markets – the scuppered transaction has shown up a very fragile market suffering from oversupply.

K+S’ Legacy project in Saskatchewan could produce 2.86Mtpa of potash at full capacity

K+S’ Legacy project in Saskatchewan could produce 2.86Mtpa of potash at full capacity

In June, PotashCorp made its intentions clear. It was prepared to pay US$8.7 billion for K+S, a 40% premium to the pre-offer closing price of the German company, providing it with a “platform for growth”....

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