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Mosaic Acquires Phosphate Business and Becomes a Leader in the Industry

 (Image source: Mosaic)

The fertilizer giant Mosaic Co (NYSE:MOS) will acquire CF Industries Holdings, Inc.’s (NYSE:CF) Florida phosphate business for $1.2 billion in cash and an allocation of $200 million to CF’s asset retirement fund. The Florida phosphate operations currently produce about 1.8 million tones of phosphate fertilizers annually for CF Industries. As a standalone phosphate producer, Mosaic annually produces about 8.2 million tones of phosphate. The acquisition will make Mosaic a leader among phosphate producers around the world. In addition, according to Mosaic, the deal will contribute about 30 cents to earnings per share for 2015.