By Robb M. StewartMosaic Co.'s shares were under pressure Friday after iron ore producer Vale moved to raise about $1.26 billion by exiting its stake in the phosphate and potash company and Mosaic agreed to buy some of the stock being offloaded. In morning trading, Mosaic was trading 4.4% lower at $37.10, narrowing the gain since the end of last year to 61%. Mosaic said the Brazilian company priced an offering of about 34.2 million Mosaic shares, its entire stake. Vale picked up the shares of Mosaic as part of the sale to the company in 2018 of its fertilizer business. Write to Robb M. Stewart at robb.stewart@wsj.com(END) Dow Jones NewswiresNovember 05, 2021 11:33 ET (15:33 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.

Source: Wall Street Journal November 06, 2021 03:37 UTC