CHICAGO — When it rains, it pours.
Add Morton International Inc. of Chicago to the recent flood of mergers and acquisitions.
Morton announced Feb. 1 that Rohm and Haas Co. of Philadelphia will acquire the specialty chemical company, known in most households for its table salt, for $4.9 billion in cash and stock. Rohm and Haas also will assume $268 million of Morton's net debt.
Two weeks ago, Morton announced the sale of its Injecta Color liquid colorant business to Chroma Corp. of McHenry, Ill., for an undisclosed amount. The deal is expected to be final by the end of March.
Injecta Color manufactures liquid concentrates which are custom formulated and used to color a range of thermoplastic products.