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Monday, January 10, 2011

Compass Minerals to buy private Canadian company for $56.3 mln, (NYSE: CMP)

Compass Minerals (CMP.N) said it acquired Canadian sulfate of potash producer Big Quill Resources Inc for $56.3 million in cash to strengthen its specialty fertilizer segment. Compass, which makes salt, sulfate of potash and magnesium chloride, expects the deal to be immediately accretive. Big Quill has a facility near Wynyard, Saskatchewan with a capacity of about 40,000 short tons and its 2010 revenue is expected to be about C$23 million ($23.2 million), Compass said in a statement.