Vale SA, the Brazilian mining conglomerate, said Friday that it is in talks to acquire the local fertilizer operations of U.S. agricultural company Bunge Ltd. (NYSE: BG) for $3.8 billion, according to Associated Press.
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Vale, the world's largest producer of iron ore, says the deal under negotiation involves phosphate rock mines and processing plants for phosphates and nitrogen.
The company said Friday in a statement that the deal is subject to approval by both companies and by regulators.
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