Paint manufacturing giant Sherwin- Williams Co. on March 20 announced that it will acquire rival The Valspar Corp. in an all-cash transaction worth roughly $9 billion. Sherwin-Williams says it is paying $113 a share, valuing the deal at $11.3 billion, including the assumption of $2 billion of Valspar’s debt. Sherwin- Williams expects the acquisition to grant it a greater global reach, particularly in Asian markets. The deal creates one of the largest suppliers of paint for the residential and commercial construction sectors. The new company will have 58,000 employees and would have had a combined revenue of $15.6 billion last year. Sherwin-Williams said it does not anticipate significant divestitures in order to comply with antitrust regulations. The acquisition deal is expected to close by the end of Q1 2016.
Sherwin-Williams Acquires Rival Valspar in $9-billion Deal
March 23, 2016