Pass the Salt: DOJ Requires Stone Canyon to Divest Its Evaporated Salt Business to Obtain Merger Clearance
By EsqSocial Corporation 27/04/21
Earlier this week, Stone Canyon Industry Holdings LLC (“Stone Canyon”) and its portfolio company SCIH Salt Holdings Inc. (“SCIH”) reached a settlement agreement with the Department of Justice (“DOJ”) to resolve its investigation of SCIH’s proposed acquisition of Morton Salt Inc. (“Morton”). Under the terms of the settlement agreement, which is subject to Tunney Act review, Stone Canyon and SCIH are required to divest all assets relating to evaporated salt in order to proceed with the Morton...
By: Mintz - Antitrust Viewpoints