Whitebox takes 9.5 percent stake in PHI

Minneapolis — Whitebox Advisors LLC and associated companies have procured a 9.5 percent stake in Phosphate Holdings Inc., (PHI) the owner of Mississippi Phosphates Corp., according to filings with the U.S. Securities and Exchange Commission. PHI, which released earnings this week, has been reviewing strategic options for some time. Whitebox, led by long-time investor Andrew Redleaf, specializes in identifying market inefficiencies across markets and capital structures for hedge fund investors. Redleaf is also the founder and CEO of Whitebox Mutual Funds.