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" OTTAWA, Aug 17 (Reuters) - Canada said on Tuesday it would conduct a rigorous review of any foreign takeover of Potash Corp (POT.TO) as the governing Conservatives seek to avoid the kind of political backlash such deals have triggered in the past.

Anglo-Australian miner BHP Billiton (BHP.AX) (BLT.L) this week launched an unsolicited $38.6 billion bid to acquire Potash Corp of Saskatchewan (POT.TO), the world's biggest fertilizer producer.

Potash rejected the offer on Tuesday as "grossly inadequate" but Chief Executive Bill Doyle said the company is not opposed to a sale, effectively telegraphing that the assets are in play."

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