Chinese Investors Mull Potash Bid

A group of Chinese investors have approached Alberta Investment Management, a Canadian pension fund manager, about the prospect of making a comepeting offer to BHP Billiton's (NYSE: BHP) $38.6 billion bid for Potash Corp. (NYSE: POT).

The fund said it was not interested in a rival bid and did not name the investors involved, according to the BBC.

China's interest in Potash has been well-documented since BHP, the world's largest mining company, launched its bid for Potash. Sinochem, China's largest chemicals trader, and Cnooc (NYSE: CEO), the country's largest offshore oil driller, have been named in press reports as possible suitors for Potash.

The Canadian government doesn't appear willing to let Potash slip into foreign hands, regardless of where the buyer is from.

Analysts suggest that Chinese investors are attempting to get Canadian backers on board for a bid in order to minimise these concerns, the BBC reported.

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