Delicate recipe

9 September 2010 By Wei Gu

A Chinese counter to BHP Billiton’s $39 bln bid for the Canadian fertiliser maker depends on getting the right ingredients. Singapore’s Temasek may be able to help with some of them, if it can get a sweet deal. Meanwhile, China’s scarcest asset may be time.

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China's stateowned agriculture trading company Sinochem Corp. has invited Temasek, the Singapore state investor, to join a consortium that may bid for Canada's Potash Corp, according to Reuters.

Chinese officials have ordered Sinochem to meet investment banks to block BHP Billiton's $39 billion hostile bid for the world's largest fertiliser supplier.

Potash said several other parties have expressed interest in possible transactions and has called the AngloAustralian miner's $130ashare offer "grossly inadequate."

U.S.listed Potash shares closed at $150.47 on Sept. 8.

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