Report
Jeffrey Stafford
EUR 147.86 For Business Accounts Only

Market's Positive Response to a PotashCorp-Agrium Tie Up Looks a Bit Optimistic

Agrium has confirmed that it is in discussions with PotashCorp regarding a potential "merger of equals." News reports say a deal could be agreed upon as early as next week. Without the disclosure of merger terms, we're sticking with our current fair value estimates for now--PotashCorp at $20 per share (CAD 26) and Agrium at $96 per share (CAD 125). But we would likely adjust our fair value estimates upward if a deal is agreed upon, based primarily on cost synergies, with less impact from firmer ...
Underlying
Mosaic Company

Mosaic is a producer and marketer of concentrated phosphate and potash crop nutrients. The company is organized into three reportable business segments: Phosphates, which owns and operates mines and production facilities in Florida that produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana that produce concentrated phosphate crop nutrients; Potash, which mines and processes potash in Canada and the United States and sells potash in North America and internationally; and Mosaic Fertilizantes, which produces and sells concentrated phosphates crop nutrients, phosphate-based animal feed ingredients and potash fertilizer.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Stafford

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