Simpson Thacher Represents The Mosaic Company in Connection with $7.5 Billion Offering of Common Stock
05.25.11
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Simpson Thacher represented The Mosaic Company (“Mosaic”) (NYSE: MOS) in connection with the offering of 115 million shares of common stock for gross proceeds of approximately $7.5 billion, representing the full exercise of the underwriters’ over-allotment option. The offering was completed in connection with Mosaic’s split-off from Cargill, Incorporated. Simpson Thacher also represented Mosaic in connection with the split-off.
The 115 million shares included in the offering included 7.5 million shares distributed to certain Cargill stockholders in the split-off and 107.5 million shares that Cargill exchanged with certain of its debt holders in connection with the split-off. Mosaic did not receive any proceeds from the offering.
Mosaic is one of the world’s leading providers of crop nutrients and feed ingredients for the global agriculture industry. Cargill is a privately held international producer and marketer of food, agriculture, financial and industrial products and services.
The Simpson Thacher team for the transaction included Joe Kaufman, Brian Rosenzweig and Corina Gugler (Capital Markets); Casey Cogut, Eric Swedenburg, Ellen Rosenberg and Viktor Sapezhnikov (M&A); Steve Todrys, Jonathan Talansky and Christian Miller (Tax); Mike Isby (Environmental); George Wang (Litigation); Jennie Getsin (FINRA) and paralegal Allison Nichols.