By paNOW Staff

First Nations step back from PotashCorp bid

Nov 14, 2010 | 7:35 AM

A Saskatchewan First Nations group is stepping back from its hopes of making an investment in PotashCorp.
The Indigenous Potash Group says PotashCorp doesn't need its money after all, because Ottawa rejected B-H-P Billiton's takeover bid last week.
The group said it raised $25 billion dollars to invest in PotashCorp and fend off a hostile takeover.
According to the group, if BHP does come back with a revised offer, PotashCorp would be open to more talks — but for now, the money is not needed.