Mosaic Buys Brazil Fertilizer Assets From Vale at Reasonable Price
Mosaic has announced a deal to purchase Brazilian fertilizer assets from Vale for $2.5 billion in cash and equity. Based on our long-term outlook for fertilizer markets, we think Mosaic is paying a reasonable price, and our $33 per share fair value estimate for Mosaic is unchanged. We expect minimal impact on our Vale fair value estimate, as well. Our no-moat ratings for both companies are intact.Mosaic will buy 4.8 million metric tons of phosphate capacity and 0.5 million metric tons of potash...
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.
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