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EANS-News: K+S Aktiengesellschaft / Acquisition of Morton Salt K+S and Dow Chemical Confirm FTC Clearance
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Utl.: K+S Aktiengesellschaft / Acquisition of Morton Salt
K+S and Dow Chemical Confirm FTC Clearance =
Kassel (euro adhoc) - Kassel, 28 September 2009
Acquisition of Morton Salt
K+S and Dow Chemical Confirm FTC Clearance
K+S Aktiengesellschaft and The Dow Chemical Company announced jointly today
that the United States Federal Trade Commission (FTC) has voted to accept a
consent decree agreed to by K+S Aktiengesellschaft.
The acceptance of the consent decree by the FTC clears the parties to close the
acquisition by K+S of Morton International Inc., the salt business of Rohm and
Haas Company. The two companies expect that the closing of the transaction will
take place within the next few days.
K+S already fulfilled the requirements by the FTC for selling bulk de-icing
salt assets in Maine and Connecticut. The impact on the business, generated by
these divestitures is minor. Following the acquisition of Morton Salt, K+S will
become the largest salt producer in the world.
Dow will use the USD 1.68 billion in gross proceeds from the sale of Morton
Salt to fully pay off the balance of a bridge loan Dow used to partially fund
its acquisition of Rohm and Haas. The payoff of this short-term financing
facility comes well ahead of Dow's goal to pay the loan off by the end of the
year.
About the K+S Group
K+S is one of the world's leading suppliers of speciality and standard
fertilizers, plant care as well as salt products. With its products and brands,
K+S offers its customers a range of needs-based goods and services which
provides growth opportunities in virtually every sphere of daily life. The K+S
Group employs more than 12,000 people and achieved revenues of just under EUR
5.0
billion in 2008. K+S is quoted on all German stock exchanges (ISIN:
DE0007162000, symbol: SDF) and listed on the DAX® share index. More information
about K+S can be found at www.k-plus-s.com.
About The Dow Chemical Company
Dow is a diversified chemical company that combines the power of science and
technology with the "Human Element" to constantly improve what is essential to
human progress. The Company delivers a broad range of products and services to
customers in approximately 160 countries, connecting chemistry and innovation
with the principles of sustainability to help provide everything from fresh
water, food and pharmaceuticals to paints, packaging and personal care
products. In 2008, Dow had annual sales of about USD 58 billion and employed
approximately 46,000 people worldwide. The Company has 150 manufacturing sites
in 35 countries and produces approximately 3,300 products. On April 1, 2009,
Dow acquired Rohm and Haas Company, a global specialty materials company with
sales of USD 10 billion in 2008, 98 manufacturing sites in 30 countries and
approximately 15,000 employees worldwide. References to "Dow" or the "Company"
mean The Dow Chemical Company and its consolidated subsidiaries unless
otherwise expressly noted. More information about Dow can be found at
www.dow.com.
Your contact persons at K+S:
Press:
Michael Wudonig
phone: +49 561 9301-1262
fax: +49 561 9301-1666
michael.wudonig@k-plus-s.com
Investor Relations:
Christian Herrmann
phone: +49 561 9301-1460
fax: +49 561 9301-2425
christian.herrmann@k-plus-s.com
Your contact persons at The Dow Chemical Company:
Bob Plishka
Phone: +1 989 638-2288
bplishka@dow.com
Further inquiry note:
Your contact persons at K+S:
Press:
Michael Wudonig
phone: +49 561 9301-1262
fax: +49 561 9301-1666
michael.wudonig@k-plus-s.com
Ende der Mitteilung euro adhoc
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issuer: K+S Aktiengesellschaft
Bertha-von-Suttner-Straße 7
D-34131 Kassel
phone: +49 (0)561 9301-1100
FAX: +49 (0)561 9301-2425
mail: christian.herrmann@k-plus-s.com
WWW: http://www.k-plus-s.com
sector: Chemicals
ISIN: DE0007162000
indexes: DAX, Midcap Market Index, CDAX, Classic All Share, HDAX, Prime All
Share
stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing:
Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English
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