Mosaic Shareholder Challenges $24B Cargill Sell-Off

Law360, New York (March 1, 2011, 6:51 PM EST) -- A Mosaic Co. investor filed a class action in Delaware on Monday seeking to block Cargill Inc. from divesting its $24 billion stake in the fertilizer company, saying the deal solely benefits Cargill at the expense of minority shareholders.

The transactions proposed by Cargill — which would allow the agribusiness giant to pay off debt with a portion of its Mosaic shares — unfairly dilute the voting power of minority shareholders and leave them with less valuable shares, according to the complaint lodged by the City...
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