Will Chicago soon say auf wiedersehen to Morton Salt?
The company has been acquired by German salt giant K + S. Morton Salt got its start in Chicago—all the way back in 1848. The company’s had its headquarters in the city ever since, even though it’s been owned by some non-Chicago companies. In a deal worth nearly $1.7 billion, K + S will take over Morton Salt. The transaction is expected to go though by mid-2009 assuming it doesn’t run into any anti-trust trouble. K + S says the purchase will make it a quote “global leader in salt.” It’s unclear what the acquisition means for Morton Salt’s Chicago headquarters and the 200 employees who work in the city. A spokesman for the company says it’s too early to say.
