BHP's Potash Takeover Attempt Could Take A While

BHP Billiton's BHP $38.6 billion hostile takeover bid for Potasch Corp. of Saskatchewan POT, the world's largest fertilizer producer, could drag into 2011 if Canadian regulators do not approve the deal. BHP Billiton extended its offer by a month to November 18 after Canada's competition regulator sought more information, according to Reuters. Investors are speculating the delay, which was expected, could work in BHP's favor. A source familiar with the transaction did not rule out further extensions to the offer period if they were necessary to clear regulatory hurdles, Reuters reported. Some people with the knowledge of the deal said it could drag into next April. BHP, the world's largest mining company, has said it will not raise its $130-a-share offer for Potash.