The U.S. Department of Justice (DOJ) has announced that Stone Canyon Industry Holdings LLC of Los Angeles, CA and its portfolio company, SCIH, will have to divest its entire evaporated salt business in order to proceed with the proposed acquisition of Morton Salt Inc.
The DOJ said that without the divestiture, the proposed acquisition would substantially lessen competition in several evaporated salt markets (including table salt and pharmaceutical grade).
The DOJ’s Antitrust Division has filed a civil antitrust lawsuit to block the proposed transaction and, at the same time, announced a settlement: that Stone Canyon and SCIH divest their U.S. Salt subsidiary and associated assets. These include a refinery in Watkins Glen, NY, as well as all other assets used in the production of its evaporated salt products
Volume 35, Issue 08