Source: Reuters

After the Canadian government essential shut down BHP Billiton's attempt to take over Potash Corp last week, BHP's chances for moving forward with the acquisition essentially ended. BHP made it official Monday that it was dropping further action to acquire Potash Corp.

Potash Corp responded with it's own statement after BHP ended its bid. "BHP Billiton's decision to withdraw its offer underscores the PotashCorp Board of Directors' unanimous belief that the BHP Billiton offer substantially undervalued PotashCorp and failed to reflect both the value of our premier position in a strategically vital industry and our future growth prospects," Potash Corp issued in a statement. 

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Read Potash Corp's statement