Hugh Hendry's Eclectica has been referenced in a bitter lawsuit between BHP Billiton and $40bn hostile target Potash.
In its suit seeking to block the "coercive" $40bn takeover, Potash referenced a research note from Hendry's CF Eclectica Agriculture fund as an example of how the Anglo-Australian giant might be deliberately trying to drive down the price of the Canadian group. The Eclectica note read: "So what are BHP up to? I think they were trying to scare off investors from the potash industry by painting a very apocalyptic view of the future industry, with a view of picking the stock up on the cheap, perhaps at $80 or $90 per share. "However, the recent run-up in crop prices will spur demand for ...
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