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Potash Corp’s (NYSE:POT) US$8.7bn bid for European rival K+S (ETR:SDF) has hit the buffers amid headwinds in the commodity markets and, according to Potash Corp, a “lack of engagement” on the part of K+S management.

K+S had rejected the offer of 41 euros per share, first made at the end of May, as failing to reflect its fundamental value.