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May 13 (Reuters) - U.S. fertilizer company Mosaic Co said it favors buybacks over dividends to deploy about $2 billion in surplus cash it expects to have as of May 31.
The company has about $3 billion of debt capacity, Mosaic also said in a filing with the U.S. Securities and Exchange Commission on Monday. ()
Minnesota-based Mosaic, which has a market capitalization of about $26.94 billion, is the world's largest producer of finished phosphate products and North America's second-biggest potash producer.