April 2 (Reuters) - 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 supplier.
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 in 2006.
* 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.
Reporting by Ludwig Burger; editing by John Stonestreet