EANS-News: K+S Aktiengesellschaft / K+S acquires Morton Salt - Transaction creates global leader in salt

K+S acquires Morton Salt - Transaction creates global leader in salt

--------------------------------------------------------------------------------
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
--------------------------------------------------------------------------------

companies/finances/merger, acquisition and takeover/K+S

Kassel (euro adhoc) - Kassel, 2 April 2009

K+S acquires Morton Salt -

Transaction creates global leader in salt

. Excellent opportunity to grow global salt business of K+S
. Transaction value of USD 1.675 billion
. 100% cash consideration, fully underwritten
. Closing expected mid year 2009
. Transaction marks another milestone of K+S' strategy towards
balanced growth and enhanced profitability

K+S Aktiengesellschaft, one of the world's leading suppliers of speciality and

standard fertilizers, plant care as well as salt products, announced
today that it has come to an agreement with Rohm and Haas, a wholly
owned subsidiary of The Dow Chemical Company to acquire Morton
International, Inc. (Morton Salt), one of the leading producers of
consumer, industrial and de-icing salt in North America. Closing for
the transaction which values Morton Salt at an enterprise value of
USD 1.675 billion is expected by mid year 2009 following receipt
of the required approvals from antitrust authorities.

"Morton Salt is an excellent opportunity to grow our global salt
business", said Norbert Steiner, Chairman of the Board of Executive
Directors of K+S. "It marks another milestone in our strategy
towards balanced growth, enhances our profitability and as a result
strengthens K+S Group overall, in Europe and Overseas. As one
of the leading salt producers, Morton Salt offers us
widespread, close-to-customer production sites in the U.S. and
Canada and a nationwide distribution network. Through Morton Salt
we gain access to new and less volatile de-icing regions. It
extends and diversifies our geographic presence and enhances
our positions in the North American consumer and industrial
salt markets."

The acquisition of Morton Salt will make K+S the North American
and global leader in salt. In 2008, Morton Salt achieved revenues of
USD 1.2 billion and EBITDA of USD 270 million. Morton Salt operates
6 rock salt mines, 7 solar evaporation facilities, 10 vacuum pan
operations as well as 62 salt stockpiles and 61 distribution
centers. Its annual salt production capacity amounts to 13.1
million tonnes. Founded in 1848, Morton Salt has 2,900 employees
and is headquartered in Chicago.

The purchase price will be paid in cash. The financing is fully
underwritten by Dresdner Kleinwort, Société Générale and Unicredit
(HVB). While maintaining a strong and flexible balance sheet, the
transaction is consistent with K+S' acquisition criteria. The
acquisition will be clearly EPS accretive from 2010 onwards.
"Morton Salt is a profitable business with strong cash flow
generation and provides us with operational synergy potential by
leveraging the leading salt consumer brand ("The Morton Umbrella
Girl") to its existing product portfolio and by optimizing
logistics between Chile, Brazil and North America", said Norbert
Steiner.

"Our business operations are highly complementary and we
share a deep understanding of the salt business which will
facilitate a smooth integration and deliver immediate benefits to
employees, customers and shareholders. We look forward to working
together with an excellent team to realize the growth opportunities
that lay ahead", he added.

K+S and Dow Chemical have carefully analyzed the business
combination with respect to potential antitrust and other regulatory
considerations and do not foresee any issues in this regard.

Note to editors K+S will host a conference call for media today, 2
April 2009, at 11 am CEST (in German) and a conference call for
analysts and investors today, 2 April 2009, at 3 pm CEST/ 9 am
EST (in English). You may participate in both calls by using the
following dial-in number: +49 (0) 40 37707 9033.

Norbert Steiner, Chairman of the Board of Executive Directors of K+S,
will host both calls. In addition, the investor and analyst call can
be accessed on www.k-plus-s.com.

Your contact persons:

Press:
Oliver Morgenthal
phone: +49 561 9301-1047
fax: +49 561 9301-1666
oliver.morgenthal@k-plus-s.com

Investor Relations:
Christian Herrmann
phone: +49 561 9301-1460
fax: +49 561 9301-2425
christian.herrmann@k-plus-s.com

Experience growth The K+S Group 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 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.

Forward-looking statements This press release contains facts and
forecasts that relate to the future development of the K+S Group
and its companies. The forecasts are estimates that we have made
on the basis of all the information available to us at this moment
in time. Should the assumptions underlying these forecasts prove not
to be correct, actual events may deviate from those expected at the
present time.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: K+S Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Press:

Oliver Morgenthal

phone: +49 561 9301-1047

fax: +49 561 9301-1666

oliver.morgenthal@k-plus-s.com

Investor Relations:

Christian Herrmann

phone: +49 561 9301-1460

fax: +49 561 9301-2425

christian.herrmann@k-plus-s.com

Branche: Chemicals
ISIN: DE0007162000
WKN: 716200
Index: DAX, Midcap Market Index, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / regulated dealing
Börse Hamburg / regulated dealing
Börse Stuttgart / regulated dealing
Börse Düsseldorf / regulated dealing
Börse Hannover / regulated dealing
Börse München / regulated dealing