Mosaic executives say not a 'strong likelihood' of takeover

Tue May 14, 2013 1:36pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

NEW YORK May 14 (Reuters) - A takeover of Mosaic Co is unlikely in the near term and would be affordable to only a handful of players, executives said in an interview on Tuesday.

Chief Executive Jim Prokopanko said Mosaic has worked hard to expand its phosphate and potash operations around the world, work that would require a sizeable investment to match. Any takeover would be "expensive," he said.

"If somebody wanted to replicate what Mosaic is today, it's $60 billion," Prokopanko said.

Mosaic's market value is roughly $26.4 billion.

Prokopanko declined to comment when asked whether Mosaic has been approached by interested buyers in the past year.

Larry Stranghoener, Mosaic's chief financial officer, said the company doesn't believe a takeover is a "strong likelihood."