January 10, 2014
The Mosaic Company has completed the acquisition of the initial 21.65 million restricted class A shares from the Margaret A. Cargill Foundation and the Anne Ray Charitable Trust (collectively, the MAC Trusts).
This share repurchase is part of the previously announced agreement to acquire 43.3 million restricted class A shares from the MAC Trusts.
Based on the 20-day volume-weighted average closing price before January 8, 2014, the company purchased the 21.65 million shares at a price of US$45.77 per share.
The remaining 21.65 million class A shares will be purchased by Mosaic beginning in February 2014 in seven equal instalments at the close of each successive 20-day trading period using the same volume-weighted average pricing formula as the initial transaction.
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilisers and feed ingredients for the global agriculture industry.