TORONTO (AP) -- Potash Corp. of Saskatchewan is asking a U.S. court to block a hostile takeover by mining giant BHP Billiton.
Australia's BHP Billiton Ltd. launched a hostile US$130-per-share takeover bid last month after Potash directors rejected its offer as being wholly inadequate.
The complaint is the latest defensive move by one of Canada's largest mining companies and the world's largest producer of the fertilizer ingredient potash.
Potash's filing with a U.S. district court on Wednesday alleges that BHP Billiton has made false and misleading statements in making the US$38.6 billion takeover offer.
It also argues BHP is being "unusually coercive" because it requires support from only half of shareholders, rather than the more routine two-thirds majority.
