January 18, 2011 / 10:49 PM / in 8 years

Mosaic can still sell itself over next 2 years-CEO

NEW YORK, Jan 18 (Reuters) - Mosaic Co (MOS.N) could sell itself over the next two years even though its majority shareholder Cargill [CARG.UL] decided to sell its stake in the fertilizer company, Mosaic’s chief executive said in a conference call on Tuesday.

The company and Cargill have built mechanisms into their deal that would let the company accept a competing bid if one arises, according to a source familiar with the matter.

For a bid to be taken seriously, the source said, it would need to be high enough to offset the tax benefits of the Cargill-Mosaic deal. (Reporting by Michael Erman and Ernest Scheyder. Editing by Robert MacMillan)

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