K s said to reject takeover proposal by rival potash corp.

K+S AG, the German potash supplier, plans to reject an $8.6 billion-plus takeover offer from Canadian fertilizer producer Potash Corp. of Saskatchewan Inc. because it deems the bid to be too low, according to people familiar with the matter. Potash Corp. has long preached the virtue of price stability and has questioned plans by rival producers such as BHP Billiton Ltd. to build new mines. By proposing a takeover, Potash Corp. might be looking for a way to slow construction of K+S's Legacy mine, according to P.J. Juvekar, a Citigroup Inc. analyst. [Extracted from the article]