Cargill, Incorporated, announced Tuesday that it plans to spin off its fertilizer and animal feed subsidiary, The Mosaic Company, in a tax-free deal that The New York Times valued at more than $24 billion.
Terms of the deal call for Minnetonka, Minn.–based Cargill to initially give up its 64 percent stake in Mosaic as a first step toward the latter eventually becoming a wholly owned public company, allowing Cargill to remain one of the largest private companies in the United States.
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