Shares in German giant K+S, the world's biggest salt miner, plunged 23 percent at open Monday, after Canadian rival PotashCorp scrapped its near eight-billion-euro ($9 billion) takeover bid.

The stock lost 23.21 percent to 23.81 euros at 0705 GMT. In a statement published Sunday, the Canadian group said it was withdrawing its offer because of a "significant decline of global commodity and equity markets" as well as a lack of engagement by the German management.