Sinochem Finds The Going Tough For Potash

Sinochem International, China's largest chemicals trader, is finding it difficult to attract partners to help it pursue a counter bid to BHP Billiton's BHP $38.6 billion hostile takeover offer for Potash Corp. POT. Sinochem, which received preferred status from the Chinese government last weekend to make a bid for the world's largest fertilizer maker, needs to find non-Chinese partners to make a run at Potash and appears to be having no luck. Sinochem's bid for Potash may have been dealt a blow on Wednesday when talks with Russian fertilizer giant UralKali to form a group to bid for Potash fell apart, according to the Financial Times. Sinochem had been in talks with UralKali about forming a consortium to bid for Potash, three people close to talks told the Financial Times. Sinochem has approached a Canadian pension fund manager and nd Singapore's Temasek about teaming up to make a run at Potash, but nothing came of this talks. BHP Billiton, the world's largest mining company, made its offer for Potash six weeks ago and no competing bid has yet to materialize.