Mosaic in Talks to Buy Mexico Fertilizer Firm
June 15, 2010
MarketWatch reports that Mosaic Co., a producer of phosphate and potash fertilizers, is discussing the possible acquisition of the Mexican fertilizer producer Grupo Fertinal SA in a deal valued at as much as $1 billion, people familiar with the matter told The Wall Street Journal. The deal would expand Mosaic''s operations to Mexico, widening the company''s access to phosphate rock for use in making fertilizer in North America, the Journal reported. Mosaic, which has $2 billion of cash, wants to expand its mine holdings because it believes that the economic troubles of recent years won''t affect the world''s long-term demand for grain and other agricultural products, the Journal reported.