Vale denies talk has plans to bid for Potash Corp
SAO PAULO (Reuters) - Brazilian mining giant Vale denied on Monday market talk that it was planning to make a bid for Potash Corp, which has been fending off a hostile take-over attempt by BHP Billiton.
In a statement Vale said "the rumors that the company has bid to acquire or is negotiating to buy a fertilizer company (are) totally unfounded."
Potash, the world's largest fertilizer supplier, said on Monday it had made contact with third parties interested in "alternative transactions," without disclosing names of potential suitors.
Analysts had not ruled out the possibility that Vale could take a minority stake in Potash to help management stave off the hostile bid.
(Reporting by Reese Ewing)
