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Morning Meeting: CPPIB takes a look at Potash

Welcome to the morning meeting, a quick look at some key stories on deals and dealmakers



CPPIB kicks tires at Potash Corp.

Canada Pension Plan Investment Board's private equity team has had a look at getting involved in the Potash Corp. of Saskatchewan POT-T battle, but is coming to the conclusion that it's probably not the right fit, sources said. Still, the fact that buyout shops are having a look at getting involved in a $40-billion-plus (U.S.) takeover battle shows that there may yet be a future for private equity in mining. That's the subject of this week's Streetwise column in the print edition of The Globe and Mail.

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Potash accuses BHP of guerrilla tactics

BHP Billiton is calling Potash Corp. of Saskatchewan Inc. customers to "sow seeds of doubt and confusion about the future" of the Canadian fertilizer maker after making a $38.6-billion hostile bid. Potash argues BHP is trying to undermine Potash Corp. in the eyes of customers. It's a touchy subject, given that Potash Corp.'s sales are done through Canpotex, a marketing group that BHP originally said it would likely drop out of. However, that raised hackles in Saskatchewan's government, which gets a substantial chunk of its budget from potash production royalties that are supported by Canpotex's pricing program.

Here's a copy of the letter. And here's Bloomberg's story on the letter.

Acquisitions Seen in Wireless

In an exclusive interview with The Globe and Mail, the backer of Wind Mobile says he's had buyout offers from two of the three incumbents. Who would it be? Which of BCE Inc. , Rogers Communications Inc. and Telus Corp. ? The backer, Egyptian billionaire Naguib Sawiris, said he turned down the offers and instead expects to be a buyer, arguing that Wind will someday acquire the other two small wireless players that have recently launched, Mobilicity and Public Mobile because "they will be dead on arrival." If he's right, this round of wireless industry expansion will look a lot like the last, where upstarts are bought by incumbents.



Google buys Canadian content

Google Inc. , which has set itself a furious acquisition pace, is buying a Canadian startup in the gaming business. The target, SocialDeck, designs games that can be played on social networks and had more than one million downloads last year.

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Gold to $1,500 (U.S.)?

Bloomberg News took a look at the tea leaves in the gold market and came to the conclusion that the smart money's positioning has gold rising to 1,500 (U.S.) an ounce next year.



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