Germany's K+S shares plunge as PotashCorp scraps €8bn bid
K+S Potash Canada
Berlin - Arab Today
Shares in German giant K+S, the world's biggest salt miner, plunged 23 percent at open Monday, after Canadian rival PotashCorp scrapped its near eight-billion-euro ($9 billion) takeover bid.
The stock lost 23.21 percent to 23.81 euros at 0705 GMT. In a statement published Sunday, the Canadian group said it was withdrawing its offer because of a "significant decline of global commodity and equity markets" as well as a lack of engagement by the German management.
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