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TORONTO — Canada blocked BHP Billiton’s $40 billion hostile takeover bid for Potash Corp. of Saskat chewan, bowing to political pressure to prevent what would have been the largest international takeover this year.
Industry Minister Tony Clement said Wednesday that at this time, he’s not satisfied the proposed transaction would provide a net benefit to Canada. Clement said BHP, the world’s largest mining company, has 30 days to appeal.
