Source: Reuters and The Globe and Mail

A merger between Russia's top two producers of potash, Urakali and Silvinit, could create the world's second largest potash company. The new company may rival Canada's Potash Corp. The deal marks another step in consolidation in the global potash business.

Suleiman Kerimov, the billionaire behind the proposed merger, is seeking to challenge Potash Corp.'s dominance of the potash industry. According to industry sources, Kerimov has had the merger in the works since last summer. 

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