By paNOW Staff

Decision day for Potash Corp

Nov 3, 2010 | 6:24 AM

paNOW staff

Today, the federal government is expected to announce whether it approves, rejects, or approves with conditions, BHP Billiton's bid for PotashCorp.

Premier Brad Wall has said legal action is a possibility if Ottawa backs the deal.

Meanwhile Indigenous Potash Group said foreign investors, and the Canadian Pension fund have come up with $25 billion to rival the BHP bid.

And the group said it's ready to file an injunction, if the BHP bid is successful.

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IPG President Ken Thomas said the money would keep Potash Corp the way it is. It will also allow the company to keep up with any increase to the Billiton bid.

The group is supported by a consortium of investors from China, India, and Brazil, as well as the Canadian Pension funds.

They'll be ready to submit their bid in about two weeks.