By paNOW Staff

BHP’s failed bid for Potash Corp the top news story of last year

Jan 1, 2011 | 10:14 AM

Reported By Sheri Ebert
 

As the year comes to an end, News Talk Radio has been counting down the top news stories, that listeners selected through an online poll. The government-blocked hostile takeover bid for Potash Corp by Australia's BHP Billiton- has been chosen as our province's top news story of 2010.

Back in August, Australian mining giant BHP Billiton launched a $40 billion dollar hostile takeover bid for Potash Corp. But it was eventually blocked by the federal government, after both it and the provincial government determined it would provide no net benefit to the country.

So does the world still have the impression that Saskatchewan is open to foreign investment?

Business Analyst Paul Martin weighs in.

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“There are people in the investment community worldwide who were not impressed with the decision. First, coming out of Saskatchewan and the Premier's famous “no” speech, followed by Ottawa's decision to embrace that notion… but if you look at what's happened since, I don't think it's had that much of an impact. We've seen a couple of other major players continue to play here,” Martin said Friday.

Martin says a side benefit of the BHP story is that it raised Saskatchewan's profile around the world, with news outlets from Australia to Saskatchewan to New York talking about our province for months in the fall.