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Stock Market & Financial Investment News

News Breaks
May 14, 2013
13:10 EDTMOS, BHPMosaic would resume potash expansion if BHP cancels Jansen project, Reuters says
In an interview with Reuters the Mosaic (MOS) CFO said it would resume potash expansion if BHP (BHP) cancels the Jansen project. The CFO also stated in the interview that a 'takeover not a strong likelihood."
News For MOS;BHP From The Last 14 Days
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April 17, 2014
07:06 EDTBHPBHP could benefit from rebound not spinoffs amid metal slump, Bloomberg says
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April 15, 2014
18:57 EDTBHPBHP Billiton reports Q3 total petroleum production up 10%
BHP Billiton reported total petroleum production for Q3 was up 10% over the prior year, with production for the nine months ended March 31 totaling 181.3 MMBoe. The company also lowered its FY14 production guidance to 245 MMboe, citing lower gas and natural gas liquids production in the Hawkville area of the Eagle Ford. BHP reported Q3 copper production fell 5%, with total copper production increasing 2% to 1.3 Mt for the nine months ended March 31. BHP reiterated its copper production guidance for FY14 of 1.7 Mt. BHP also reported Q3 iron ore production increased 23%, with production for the nine months ended March 31 growing 21% to 147,387 kt. BHP expects FY14 iron ore production to total 197 Mt.
16:22 EDTMOSOn The Fly: Closing Wrap
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13:19 EDTMOSArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTMOSMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
11:44 EDTBHPPotash Corp. advances after report says BHP could make new bid
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09:16 EDTBHPOn The Fly: Pre-market Movers
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07:46 EDTBHPPotash Corp. speculated to be targeted again by BHP Billiton, Globe & Mail says
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April 9, 2014
12:04 EDTMOSU.S. corn exports projected to increase 125M bushels
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09:33 EDTBHPBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
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