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Madrid-based traders allegedly traded in advance of a multi-billion dollar cash tender offer by BHP Billiton Plc to acquire Potash Corp. of Saskatchewan Inc. According to the complaint, defendants purchased hundreds of “out-of-the-money” call option contracts for stock in Potash while in possession of nonpublic information about the acquisition bid, and sold immediately after it was announced for illicit profits of nearly $1.1 million.