The big news of the morning: Potash Corporation of Saskatchewan and its counsel at Jones Day have filed a federal suit in U.S. district court in Chicago seeking to block BHP Billiton’s hostile $39 billion mega-offer for the Canadian fertilizer maker, according to The New York Times and court records included in a regulatory filing this morning.
The suit accuses BHP (which is being advised by Cleary Gottlieb Steen & Hamilton, among other firms) of lying in its public statements about its Potash bid and of structuring its offer in a way that may violate Canadian securities laws, court records show.
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