A PYMNTS Company

US: Morton and Cargill settle $11.5 million agreement over rock salt prices

By  |  June 3, 2015

Ohio’s Attorney General says Ohio has reached an $11.5 million settlement with Morton Salt Inc. and Cargill Inc. over allegations that the companies conspired with each other to charge higher prices on the rock salt used to make icy roads safer for travelers.

Morton and Cargill will pay a combined $11.5 million, according to terms of the agreement.

Most of the money will be distributed to local government entities throughout Ohio, the Ohio Department of Transportation, and the Ohio Turnpike Commission.

Attorney General Mike DeWine filed an antitrust lawsuit against Morton and Cargill on March 21, 2012, in Tuscarawas County.

The suit alleges both companies divided up the Ohio rock salt market between themselves, agreeing not to compete with each other and driving up rock salt prices for about a decade, ending in 2010.

Full content: StarTribune

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.