April 2 K+S SDFG.DE agreed to buy Morton Salt
from Dow Chemical (DOW.N) for $1.675 billion including assumed
debt, making the German mine operator the world's largest salt
Following are five facts about what the deal means for K+S:
* The deal marks the biggest takeover in the history of K+S,
a former subsidiary of BASF BASF.DE which traces its roots to
a late 19th century salt mine. Its previous biggest takeover was
that of Chile's Sociedad Punta de Lobos (SPL) for $480 million
* K+S expects the acquisition to lead to a marked increase
in K+S' earnings per share from 2010.
* The takeover will make K+S the world's largest supplier of
salt with an annual output of almost 30 million tonnes,
relegating China National Salt Inc, which produces about 19
million tonnes, to second place.
* The Morton Umbrella Girl logo for kitchen salt ranks
among the 10 best-known brands in the United States.
* K+S won up to 1.4 billion euros ($1.85 billion) in debt
financing for the deal, fully underwritten by Commerzbank's
(CBKG.DE) Dresdner Kleinwort, Societe Generale (SOGN.PA) and
(Reporting by Ludwig Burger; editing by John Stonestreet)