Thursday Papers: Canada blocks $39bn BHP bid for PotashCorp - tips, comment and bids

(Updated with Telegraph share tips)

Financial Times

* Canada has rejected BHP Billiton’s $39 billion bid for PotashCorp, dealing a potentially fatal blow to the Australian miner’s 10-week pursuit of the Saskatchewan-based fertiliser producer.

* Private equity groups are working on bids for European companies owned by rival buy-out firms worth more than €10 billion in total as the industry looks set to keep churning assets through “pass-the-parcel” deals; Hyva, which has been put up for sale by the UK’s 3i with a €500 million price tag, has attracted bids from Permira of the UK, Carlyle of the US and Unitas Capital of Hong Kong.

* The cabinet splits on party lines in its approach to News Corp’s offer for British Sky Broadcasting, amid growing expectations that business secretary Vince Cable will refer the matter to Ofcom.

* Shareholders in Zain, Kuwait’s largest telecoms company, have agreed to sell a controlling stake in the company to Etisalat, the United Arab Emirate’s operator.

The Lex Column

* QE2: investors should show humility - Most economists have no idea if this second round of quantitative easing will work.

* Potash and Mr Kloppers - The BHP Billiton boss should be applauded for his takeover bid.

* Global economy - The most recent economic indicators have not been discouraging.

* London Stock Exchange - Reliability of trading platforms is more important than speed.

* Lloyds/Santander - UK lender passes its succession headache to the Spanish bank.