Wall says Manitoba opposes Potash sale

Saskatchewan Premier Brad Wall said Friday that Manitoba's premier hasjoined himin opposing the hostile takeover of Potash Corporation of Saskatchewan by Australian mining giant BHP Billiton.

Wall told reporters in Toronto that Manitoba Premier Greg Selinger isonside.

"He, too, wants us to balance a welcoming investment climate to be open to foreign direct investment, but to be concerned about the strategic nature of the resources that we have," Wall said.

Wall emphasized that natural resources belong to the provinces and that the premiers want to make sure their interests are represented in Ottawa when foreign companies seek to invest in Canada.

Alberta Premier Ed Stelmach joined opposition to the deal on Wednesday, and Wall said on Thursday thatQuebec'sJean Charest had offered his support to Saskatchewan's position.

Wall saidtheother premiersagreewith him that BHP ownershipof PotashCorp wouldn't be of net benefit to Canadians.

He saidhis stance doesn't mean he's against foreign investment, but said the strategic importance of Saskatchewan's potash about half of the world's reserves of the mineral used in fertilizer makes this deal of special significance.

Wall first came out against the deal Oct. 21, saying it could cost the provincial treasury billions of dollars in lost royalties and taxes over a decade.

Also Friday, federal Industry Minister Tony Clement said he won't extend Wednesday'sdeadline for deciding whether to disallowthe takeover.

Ottawa is considering whetherthe proposed deal, valued at $38.6 billion US, or $130 a share, meets the requirements of the Investment Canada Act byproviding net benefits to Canada.

Spoken with 15 bidders

Meanwhile, PotashCorp disclosed in a regulatory filing that it has spoken to 15"financial and state-sponsored potential bidders or investors" about making a competing bid for the company.

"The PotashCorp board believes that there is a real and substantial probability that alternatives to the BHP offer will emerge that will increase shareholder choice and enhance shareholder value," the company said in a filing with Saskatchewan's securities regulator.

Earlier, federal New Democrat Leader Jack Layton repeated his call for a change to the actto make thereview process of foreign takeoverstransparent.

The review is held behind closed doors, and Layton called on Prime Minister Stephen Harper to support an NDP motion to be tabled next week that calls forthe foreign investment review process to be open.

"If the government decides to give BHP the green light here, nobody is going to know why," Layton said at a news conference. "They don't have to tell us, and that's wrong."

Potash shares closedup $1.50, or one per cent, at $147.50 on the Toronto Stock Exchange Friday.