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How Will Vale (VALE) Stock React to Possible Sale of Fertilizer Unit?

NEW YORK (TheStreet) -- Vale (VALE) is nearing an agreement to sell its fertilizer unit in an effort to cut down on debt and retain credit rates, according to sources cited by Bloomberg on Friday.

The business, including mines in Brazil and Peru and developments in Canada and Mozambique, could be worth up to $3 billion.

U.S. fertilizer producer Mosaic (MOS) is a potential buyer for the unit, Bloomberg noted.

No final agreement has been reached and...