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North America: Potash giant wants independence after stake transfer

By  |  May 15, 2013
North America: Potash giant wants independence after stake transfer

North America’s second-largest producer of potash Mosaic Co. has announced it plans to remain independent after the resolution of about $8 billion worth of stock. The stake was once owned by Cargill Inc.. The world’s largest mining companies will not bid on the shares, according to Chief Executive Office Jim Prokopanko, and antitrust regulators would likely block any attempts to merge Mosaic with one if it’s largest competitors. Mosaic had recently reaffirmed its focus on potash and phosphate after a five-year review of the company; now, it says, the company will expand through joint ventures and could possible make acquisitions. Mosaic will also look to expand its existing mines.

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