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...
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