11:05 AM EST - Athabasca Potash Inc. : announced that the company and BHP Billiton Canada Inc. have entered into a definitive agreement whereby BHP Billiton will offer to acquire all of the issued and outstanding common shares of API at a price of $8.35 cash per common share. The total equity value of the transaction is approximately $341 million on a fully-diluted basis. If API's security holders approve the transaction and the requisite court approval is obtained, the closing is expected to take place later in March 2010. Athabasca Potash Inc.
shares T.API are trading up $1.60 at $8.30.
