[November 15, 2010] Potash Issued A Statement Following BHP Billiton's Offer Withdrawal (POT,BHP) Tweet Nov 15, 2010 (SmarTrend News Watch via COMTEX) -- Potash (NYSE:POT) issued a statement after BHP Billiton (NYSE:BHP) withdrew its unsolicited tender offer. The company said, "BHP Billiton's decision to withdraw its offer underscores the PotashCorp Board of Directors' unanimous belief that the BHP Billiton offer substantially undervalued PotashCorp and failed to reflect both the value of our premier position in a strategically vital industry and our future growth prospects. We believe our opportunity for growth in the industry is unmatched and we are excited about the future. As the food requirements of our growing global population continue to increase, we believe PotashCorp has the right strategies in place to enhance earnings in the strong market conditions we see unfolding. Building further value continues to be our primary focus, and with our world-class asset base and proven business strategies, we believe we are well-positioned to exceed the expectations of our customers and deliver compelling value to our shareholders." Potash has a potential upside of 14.2% based on a current price of $139.91 and an average consensus analyst price target of $159.8. Potash is currently above its 200-day moving average (MA) of $118.45 and should find resistance at its 50-day MA of $145.15. In the last five trading sessions, the 50-day MA has fallen 0.42% while the 200-day MA has risen 0.73%. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup [ Back To TMCnet.com's Homepage ]