The Mosaic Company announced that a secondary offering of its common stock by the Margaret A. Cargill Foundation and the Anne Ray Charitable Trust priced at a public offering price of $57.65 per share, for aggregate gross offering proceeds of approximately $1.0 billion. Cravath represented J.P. Morgan Securities and UBS Securities LLC as joint book-running managers for the offering, which was undertaken in connection with Mosaic’s inclusion in the S&P 500 index. Mosaic’s common stock was added to the S&P 500 index after the close of trading on September 23, 2011.
The Cravath team working on the offering was led by partner William V. Fogg and included senior attorney Daniel A. O’Shea and associates Jane K. Manning and Lola O. Ogunmefun on corporate matters; partner Matthew Morreale on environmental matters; and associate J. Leonard Teti II on tax matters.
A Cravath team also represented Credit Suisse Securities, J.P. Morgan Securities and UBS Securities as joint book-running managers in the secondary offering that was part of Cargill Inc.’s exit from its ownership of Mosaic in May, in which Cravath also represented Credit Suisse and J.P. Morgan as exchanging debt holders.