Sinochem In Talks With Singapore Partner About Potash Bid

Sinochem International, China's largest chemicals trader, has reportedly discussed making a bid for Potash Corp. POT with Singapore's Temasek, the city-state's $134 billion sovereign wealth fund. Press reports have said that the Chinese government has ordered Chinese firms, perhaps including Sinochem, to make a bid for Potash, the world's largest fertilizer maker. Temasek does own some shares of U.S.-listed firms, including $500 million Chesapeake Energy CHK preferred stock, Reuters reported. Analysts still view a Chinese acquisition of Potash as a tough bet given the Canadian government's opposition to letting the fertilizer giant fall into foreign hands. BHP Billiton BHP, the world's largest mining company, has made the lone official offer for Potash. That $38.6 billion bid, which is now hostile, has been rejected by Potash.