Mosaic Co. (NYSE: MOS) announced on Monday that it has agreed to acquire CF Industries Inc.’s (NYSE: CF) phosphate business in an all cash deal of $1.2 billion. The deal will allow both companies to focus more on their core businesses. While Illinois based CF will be able to concentrate more on nitrogen fertilizer business, its main revenue generator, Mosaic’s phosphate production capacity has received a major boost from the deal. Shares of CF, which is the United States’ biggest nitrogen producer, rose about 3.5%, while shares of Mosaic were mainly flat.
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