Tel Aviv — Israeli media reports said that Israel Corp. chairman Amir Elstein met at the World Economic Forum in Davos, Switzerland, with Canadian Foreign Minister John Baird to discuss the proposed merger of Israel Chemicals Ltd. (ICL) with Potash Corp. of Saskatchewan. Israel Corp. holds a majority stake in ICL. Israel Corp. and ICL would not comment on the reports. The new government being formed following the January 22nd elections will have to decide on the issue. The outgoing government delayed a decision due to the strong opposition to the proposed merger by the unions, as well as a number of political parties and lobby organizations. PotashCorp already owns a 13.8 percent stake in ICL. The Israeli government holds a golden share in the company, which means that it has to approve any deal. PotashCorp President and CEO William Doyle met last October with Prime Minister Benjamin Netanyahu and other government officials, and further contacts were held in December.
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