Mosaic seeks to prevent Bunge, Fosfertil merger

Plymouth, Minn.-The Mosaic Co. has filed a lawsuit against Bunge Fertilizantes S.A. and Fosfertil in Brazil to prevent the merger of the two (GM Jan. 1, p. 12). Mosaic says it is challenging, among other things, the validity of corporate actions taken by Fosfertil and its parent holding company and the valuation placed on Fosfertil. Mosaic said that it has obtained an injunction that enjoins the general meeting of Fosfertil’s shareholders to vote on the proposed merger from occurring until the merits of the lawsuit have been adjudicated. Mosaic said that if it is not successful in the matters being litigated and the merger is consummated, Mosaic’s resulting ownership interest in the combined enterprise would be diluted based on the relative valuations ascribed to each entity in any such merger.