- Vale (VALE +4.1%) shoots higher on speculation that it would announce the sale of 75% of a fertilizers unit to Mosaic (MOS +0.9%) for ~$3B, perhaps as early as today.
- An O Globo newspaper online blog also said a sale of the remaining 25% of the unit was being negotiated with an undisclosed bidder for ~$1B.
- Based on information from the O Globo blog, MOS would pay the equivalent of 15x the unit's operational earnings, a "very accretive multiple," according to Banco BTG Pactual.