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Mosaic Shareholder Sues Over Cargill Plan to Sell Stake

Mosaic Co., North America’s second-largest fertilizer producer, and its largest shareholder, Cargill Inc., were sued by an investor claiming Cargill’s plan to sell its stake in Mosaic for about $24 billion is unfair to minority stockholders.

The deal announced in January will give Cargill more valuable stock and increase its voting power to 89 percent at the expense of minority shareholders, lawyers for the City of Lakeland Employees Pension Plan said yesterday in a complaint in Delaware Chancery Court in Wilmington. The plan asked a judge to bar the transaction.