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Competition Bureau Clears Cargill-IMC Combo
NEW YORK - Sep 2/04 - SNS -- Efforts by IMC Global and Cargill Crop Nutrition to combine to create The Mosaic Company have moved a step closer to fruition now that the companies have been told by the Canadian Competition Bureau it will take no action with respect to the pending combination.
On August 31, the U.S. Department of Justice had similarly concluded its antitrust investigation of the transaction. Although the combination is subject to post closing review by the Brazilian government, no other competition approvals are required prior to closing.
IMC Global serves produces and markets concentrated phosphates and potash fertilizer; as well as phosphorus and potassium feed ingredients for the animal nutrition industry. It has 5,000 employees in 50 countries.
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