7 August 2015

PotashCorp sticks to Euro 41 per share

Today, Potash Corporation of Saskatchewan Inc. again sent an unsolicited letter to the Board of Executive Directors and the Supervisory Board of K+S Aktiengesellschaft, in which it proposed a takeover at an unchanged price of Euro 41 per share. Attached to this is a proposal for a Business Combination Agreement which addresses the interests of workers and local communities but offers no reliability.

Unchanged proposal of Euro 41 per share inappropriate

Norbert Steiner, CEO of K+S, says: “Jointly with the Supervisory Board we are still convinced that the proposed price of 41 Euro per share does not at all reflect the fundamental value of K+S. This is true for our existing business but in particular for the value contribution of our Legacy Project. For this reason alone, also the new proposal of PotashCorp is not in the best interest of the company.”

Commitments foiled by far-reaching restrictions

The documents show that the commitments proposed by PotashCorp do not provide reliability. They are foiled by far-reaching restrictions in essential parts and are not effectively enforceable. From the perspective of K+S’ Board of Executive Directors the concern remains unchanged that the transaction proposed by PotashCorp puts jobs at risk and that sites and raw material production in Germany might not be maintained.

About K+S

K+S is an international resources company. We have been mining and processing mineral raw materials for 125 years. The products we produce from them are used worldwide in agriculture, food and road safety and are important elements in numerous industrial processes. Potash and salt are integral nutrients for the megatrend of a constantly growing and increasingly prosperous global population striving for a higher standard of living. This will result in increasing consumption of mineral resources. We serve the resulting growth in demand from production sites in Europe, North America and South America as well as through a global distribution network. K+S is the world’s largest salt producer and one of the top potash providers worldwide. With more than 14,000 employees, K+S achieved revenues in financial year 2014 of about € 3.8 billion and an EBIT of € 641 million. K+S is the commodities stock on the German DAX index. Learn more about K+S at www.k-plus-s.com.

Thorsten Boeckers

Board of Executive Directors

Thorsten Boeckers
Board of Executive Directors

Bertha-von-Suttner Str. 7
34131 Kassel
Germany

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Michael Wudonig

Spokesman

Phone: +49 561 9301 1262
michael.wudonig@k-plus-s.com

Michael Wudonig
Spokesman

Bertha-von-Suttner Str. 7
34131 Kassel
Germany

Phone: +49 561 9301 1262
Fax: +49 561 9301 1666
michael.wudonig@k-plus-s.com

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