The Israeli government has informed the Beer Sheva District Labor Court that there are currently no talks for the sale of Israel Chemicals Ltd. to Potash Corp. of Saskatchewan Inc. An attorney representing the government, Yaakov Azulai, informed the court that there were talks in the past, but no formal talks are currently taking place.
However, the attorney representing ICL workers, Gideon Rubin, responded by demanding whether informal contacts or negotiations are taking place. His demand was part of a petition by the workers to receive timely updates and to monitor developments involving the status of the PotashCorp proposal for acquiring ICL. Last month PotashCorp said it would present an updated offer to take over ICL. Israeli government approval is necessary as it holds a golden share in the company following its privatization in the mid-90s. PCS currently holds just under 14 percent of ICL.