02 April 2009 01:23 [Source: ICIS news]
Financial Times Deutschland, citing unnamed banking sources, reported in its online editions that K+S was about to pay $1.5bn (€1.1bn) for Morton. The Wall Street Journal reported Dow was close to an agreement to pay $1.68bn.
Dow, which earlier on Wednesday closed its acquisition of Rohm and Haas, was trying to finance that deal by selling off some of the combined company’s business units, the paper said.
Dow CEO Andrew Liveris said last month it had been approached by several parties interested in buying Morton.
K+S was due to present at an investor conference in ?xml:namespace>
K+S offices in
Dow Chemical did not immediately return a call requesting comment.
K+S was earlier this year seen as interested in acquiring US salt firm Compass Mineral but reportedly shelved those plans after Compass’ share price shot up in the wake of takeover rumours.
In 2006, K+S strengthened its global salt business with the acquisition of Chilean producer SPL.
($1 = €0.75)
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