BHP Billiton Canada Acquires Athabasca Potash for $331M

On March 23, 2010, BHP Billiton Canada Inc. acquired all of the issued and outstanding common shares of Athabasca Potash Inc. at a price of $8.35 cash per common share by way of a statutory plan of arrangement pursuant to s. 186.1 of The Business Corporations Act (Saskatchewan).

The total equity value of the transaction is approximately $331 million on a fully diluted basis. 

BHP Billiton's Haydn Hillestad, Principal Lawyer, Potash & Titanium, instructed BHP Billiton's external legal counsel in this transaction. External legal counsel was Fasken Martineau DuMoulin LLP with a core team led by Keenan Hohol (corporate/mining); and including Georald Ingborg and Caroline Clapham (corporate/securities); Ian Cassie (real estate); Derek Knoechel (labour) and Michelle Pockey (environmental).

In addition, BHP Billiton was advised by legal counsel from McDougall Gauley LLP in Saskatchewan with a team including Michael Milani, QC (corporate, regulatory); Brett Ledingham (mining); Erin Kleisinger (corporate) and Mark Yemen (real property), among others.

Athabasca Potash's legal counsel in this transaction was Fraser Milner Casgrain LLP with a core team led by Jeffrey Read and Gary Sollis (corporate/securities); and including Kim Willey and Aaron Lightman (corporate/securities); Andrea Raso Amer (labour) and Sarah Sidhu (corporate).

McKercher LLP acted as Saskatchewan counsel to Athabasca Potash with a team including John Pringle and Nikki Rudachyk (corporate/securities); Joel Hesje, QC (court proceedings); and James Gorkoff (mining), among others.

Lawyer(s)

James P. Gorkoff Kim Willey Derek Knoechel Gary R. Sollis Erin M. S. Kleisinger Georald Ingborg John H. Pringle Nikki A. Rudachyk Joel A. Hesje G. Brett Ledingham Andrea F. Raso Aaron D. Lightman Keenan H. Hohol Michelle B. Pockey Caroline E. Clapham Mark M.D. Yemen Sarah Sidhu Jeffrey A. Read Michael W. Milani