Symbol: POT
Listed: TSX, NYSE
SASKATOON, June 25, 2015 /PRNewswire/ - Potash
Corporation of Saskatchewan Inc. (PotashCorp) today confirmed that
it has made a private proposal to K+S Aktiengesellschaft
(K+S) (SDF: GR) to negotiate the acquisition of K+S by
PotashCorp.
There is no certainty that any offer will ultimately be made or
as to the terms on which such an offer might be made.
PotashCorp does not intend to make any additional comments on
this matter at this time unless and until it is appropriate to do
so, or a formal agreement has been reached.
PotashCorp is the world's largest integrated fertilizer and
related industrial and feed products company by capacity and plays
an integral role in global food production. PotashCorp is the
world's largest producer, by capacity, of potash and one of the
largest producers of nitrogen and phosphate. These three essential
nutrients are required to help farmers grow healthier, more
abundant crops. With the global population rising and diets
improving in developing countries, these nutrients offer a
responsible and practical solution to meeting the long-term demand
for food. While agriculture is its primary market, the company also
produces products for animal feed and industrial uses. Common
shares of Potash Corporation of Saskatchewan Inc. are listed on the
Toronto Stock Exchange and the New York Stock Exchange.
This release contains "forward-looking statements" (within
the meaning of the US Private Securities Litigation Reform Act of
1995) or "forward-looking information"(within the meaning of
appropriate Canadian securities legislation) that relate to future
events or our future performance. These statements can be
identified by expressions of belief, expectation or intention, as
well as those statements that are not historical fact. These
statements often contain words such as "should," "could," "expect,"
"may," "anticipate," "believe," "intend," "estimates," "plans" and
similar expressions. These statements are based on certain factors
and assumptions as set forth in this document, including with
respect to: foreign exchange rates, expected growth, results of
operations, performance, business prospects and opportunities and
effective tax rates. While we consider these factors and
assumptions to be reasonable based on information currently
available, they may prove to be incorrect. Forward-looking
statements are subject to risks and uncertainties that are
difficult to predict. The results or events set forth in
forward-looking statements may differ materially from actual
results or events. Several factors could cause actual results
or events to differ materially from those expressed in
forward-looking statements including, but not limited to, the
following: variations from our assumptions with respect to foreign
exchange rates, expected growth, results of operations,
performance, business prospects and opportunities, and effective
tax rates; risks and uncertainties associated with the proposed but
not completed transaction including the risk that the transaction
may not be completed on a timely basis or at all; fluctuations in
supply and demand in the fertilizer, sulfur, transportation and
petrochemical markets; changes in competitive pressures, including
pricing pressures; costs and availability of transportation and
distribution for our raw materials and products, including railcars
and ocean freight; risks and uncertainties related to operating and
workforce changes made in response to our industry and the markets
we serve; risks and uncertainties related to our international
operations and assets; failure to prevent or respond to a major
safety incident; adverse or uncertain economic conditions and
changes in credit and financial markets; the results of sales
contract negotiations within major markets; economic and political
uncertainty around the world; risks associated with natural gas and
other hedging activities; changes in capital markets; unexpected or
adverse weather conditions; catastrophic events or malicious acts,
including terrorism; changes in currency and exchange rates;
imprecision in reserve estimates; adverse developments in new and
pending legal proceedings or government investigations; our
prospects to reinvest capital in strategic opportunities and
acquisitions; our ownership of non-controlling equity interests in
other companies; the impact of further technological innovation;
increases in the price or reduced availability of the raw materials
that we use; security risks related to our information technology
systems; strikes or other forms of work stoppage or slowdowns;
timing and impact of capital expenditures; rates of return on, and
the risks associated with, our investments and capital
expenditures; changes in, and the effects of, government policies
and regulations; certain complications that may arise in our mining
process, including water inflows; our ability to attract, retain,
develop and engage skilled employees; risks related to reputational
loss; earnings; and the decisions of taxing authorities, which
could affect our effective tax rates. These risks and uncertainties
are discussed in more detail under the headings "Risk Factors" and
"Management's Discussion and Analysis of Results and Operations and
Financial Condition" in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2014
and in other documents and reports subsequently filed by us with
the US Securities and Exchange Commission and the Canadian
provincial securities commissions. There can be no assurance that
the proposed transaction will be completed. Completion of the
proposed transaction is subject to a number of risks and
uncertainties. Forward-looking statements are given only as of the
date hereof and we disclaim any obligation to update or revise any
forward-looking statements in this release, whether as a result of
new information, future events or otherwise, except as required by
law.
SOURCE Potash Corporation of Saskatchewan Inc.