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Mosaic Owners to Divest Shares

2:30 PM MDT | May 12, 2011 | Vincent Valk

Former Cargill debt holders and Charitable Trusts are planning to sell 100 million shares in Mosaic in a public offering with a target price of $69.35/share. Mosaic is trading at $67.72/share as of 4pm eastern time on Wednesday. Cargill debt holders received Mosaic shares in exchange for their debt as part of Cargill's planned spin-off of its 64% stake in Mosaic, which was announced in January. Charitable Trusts, formed by the estate of Margaret Cargill, who died in 2006, also received Mosaic shares in a swap for a portion of the group's Cargill stake. Other...

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