other material
confidence high
sentiment neutral
materiality 0.70
Mosaic buys $314.8M of own stock in Vale secondary; Vale directors stay on board
MOSAIC CO
- Underwriter purchased 34.2M shares from Vale at $36.84/share; Mosaic repurchased 8.5M of those shares for ~$314.8M.
- Repurchase uses existing $1B share buyback authorization; company received no proceeds from the offering.
- Vale sold its entire holding in Mosaic and no longer owns any shares.
- Vale-designated directors Oscar P. Bernardes and Luciano Siani Pires offered resignations; board rejected them, they remain.