Mosaic Soaring on Takeover Rumors

The Mosaic Company (NYSE: MOS) shares are soaring today, up more than 5%, far outpacing the gains of the broader indices on rumors the company might be a takeover target.

Cargill, the largest private company in the U.S., has a significant stake in Mosaic, so a straight takeover by another company seems unlikely, but Cargill has been unloading some of its stake recently. The initial divestiture announcement was made on January 20, 2011.

At last check, shares of Mosaic were up $2.99 to $56.47, a gain of 5.59%‎ on 2.7 million shares.