U.S. Justice Department clears Mosaic-CF Industries deal
(Reuters) - The U.S. Department of Justice has approved Mosaic Co's (MOS.N) $1.4 billion purchase of CF Industries' (CF.N) Florida phosphate business, Mosaic said on Wednesday.
The deal, which still requires other regulatory approvals, gives Mosaic, the world's biggest producer of phosphate fertilizer products, a bigger hold on North American sales, and some analysts speculated that it may raise competition concerns.
The price includes $200 million to cover the closure and long-term care of phosphogypsum stacks, a radioactive by-product of phosphate production, under CF's current Florida operations.
Minnesota-based Mosaic, which operates other phosphate facilities nearby, would acquire the South Pasture phosphate mine and plant, a phosphate manufacturing plant and ammonia terminal and warehouse facilities.
Once the deal closes, Illinois-based CF will focus on nitrogen production.
Mosaic and CF shares dipped slightly after normal trading hours.
(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Nick Zieminski)
RIMINI Italy - Fiat-Chrysler aims to list shares in the newly merged carmaker in New York on Oct. 13, Chief Executive Sergio Marchionne said on Saturday, adding that a decision on any capital increase would be made at the end of that month.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.