Just another move in the chess game by Big Money to lock up the world’s food supply:
Anglo-Australian mining giant BHP Billiton made an unsolicited $38.6 billion offer for the world’s largest fertilizer producer, Potash Corp. of Saskatchewan Inc., in an aggressive wager that developing economies will drive up demand for the world’s food supply.
Potash is an important nutrient that replenishes soil and increases farmland’s crop yield. Global potash supplies are relatively limited, and Potash Corp., based in the prairies of central Canada, controls approximately 20% of the supply.
The offer is likely to set off a long struggle for the fate of the Canadian company, a crown jewel of the country’s natural-resources-based economy.