Mosaic Co. Modifies Pending Deal With Vale Fertilizantes; Reduces Consideration

(RTTNews) - Mosaic Co. (MOS), a producer of concentrated phosphate and potash crop nutrients, announced modifications to the definitive agreement with Vale S.A., including reduced consideration for the acquisition of Vale Fertilizantes.

In a statement, the company said the changes include a reduction in the purchase price consideration to $1.15 billion in cash and 34.2 million shares of Mosaic Co. common stock.

Vale S.A. will retain equity ownership in the TIPLAM port and Mosaic will continue to have the right to use the TIPLAM port facility in accordance with commercial arrangements entered into between the parties.

Joc O'Rourke, President and CEO, said, "Our conviction in the long-term outlook for the business and the promise of Brazil has not changed. We look forward to completing the transaction and working to realize the exceptional opportunity this acquisition presents."

The transaction is expected to close on or about January 8, 2018.