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MINNEAPOLIS — Agribusiness conglomerate Cargill Inc. said Tuesday it will turn over its 64 percent stake in fertilizer-maker Mosaic Co. to Cargill stakeholders and debt holders in an effort to boost Cargill’s credit profile and keep it a private company.
The move could be an attempt to hold off stakeholders who wanted to take Cargill public, and it also makes Mosaic more attractive for a takeover, industry analysts say.
Cargill and Mosaic jointly announced the deal, which is worth about $24.3 billion.
