Vale Preps Fertilizer Buy-Up

Vale Preps Fertilizer Buy-Up

Brazil Equity M&A

Vale’s potash producing subsidiary is preparing to spend BRL2.2bn ($1.3bn) to acquire the rest of Vale Fertilizantes it doesn't already own. The Brazilian miner’s Mineracao Naque is offering BRL25 per ordinary or common share, representing a 1.3% premium to Thursday’s BRL24.68 preferred share closing price. Vale holds about two-thirds of Vale Fertilizantes. The offer is subject to two-thirds acceptance from minority holders. The buyback is scheduled for December 12. The operation

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