Chemical Week Magazine :: Business & Finance :: United States/Americas
Mosaic to repurchase shares from Cargill trusts
6:18 AM MST | December 13, 2013 | â€”Lindsay Frost
Mosaic has announced that it has entered into an agreement to repurchase 43.3 million restricted Class-A sharesâ€”roughly 10% of shares outstandingâ€”over the next eight months from the Margaret A. Cargill Foundation and the Anne Ray Charitable Trust (MAC Trusts), which are associated with Cargill. Mosiac will purchase 21.7 million of MAC Trustsâ€™ shares on 8 January 2014 at a price determined by the average closing price of the companyâ€™s common stock during the preceding 20-day trading period, the company says. The remaining 21.6 million Class-A shares will...
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