Saskatoon-Potash Corp. of Saskatchewan Inc. on Nov. 16 announced that its board of directors has approved the commencement of a share repurchase program authorizing up to US$2 billion in repurchases of PotashCorp’s outstanding common shares over a one-year period through a normal course issuer bid. Based on the closing price of the common shares of PotashCorp on the New York Stock Exchange on November 15, 2010, PotashCorp could repurchase approximately 14.57 million common shares, or approximately 4.9 percent of the “public float” of common shares under the program. Common shares repurchased under the program will be cancelled. As at Nov. 15, 2010, the company had 297,848,379 common shares outstanding; the public float was 296,721,059 common shares.
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