McCormick To Divest Seasoned Salt To Appease FTC

Law360, New York (July 31, 2008, 12:00 AM EDT) -- McCormick & Co. Inc. has agreed to sell off its $18 million Season-All Seasoned salt business in a bid to make its proposed $605 million takeover of the Lawry's and Adolph's brands from Unilever N.V. more palatable to federal regulators.

The spice maker said Wednesday it had entered into a definitive agreement to sell its Season-All business to the Morton Salt Group of Morton International for $15 million in cash, paving the way for the U.S. Federal Trade Commission to approve its acquisition of the assets...
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