BHP Billiton Limited (BHP), the world's largest natural-resources company, launched a $130-per-share bid for Potash Corporation, Inc., (POT) of Saskatchewan, Canada, the world's largest integrated fertilizer and related industrial and feed products company and the largest producer of potash worldwide by capacity. The acquisition was aimed at meeting BHP's corporate strategy of becoming a leading global miner of potash. Although the initial offer was refused by POT's board and management, it did not dissuade BHP management from commencing the offer through newspaper advertisements beginning on August 20, 2010. The offer remained open for acceptance until 11:59 p.m. on October 19, 2010. Students will learn how BHP planned to finance the takeover.