K+S of Germany agreed Thursday to buy Morton Salt from Dow Chemical Co. for $1.68 billion to become the world's biggest salt producer and reduce its dependence on potash fertilizer.
The announcement came just one day after Dow closed its $16.5-billion purchase of chemical maker Rohm &Haas Co., owner of Morton Salt.
Morton, founded in 1848, is North America's largest salt producer with 2008 sales of $1.2 billion.
K + S agrees to buy Morton Salt from Dow Chemical
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