The Plain Dealer reported that Cleveland-based Sherwin-Williams Co. announced it is acquiring Valspar Corp. in an all-cash deal for $113 per share, about $11.3 billion.
This transaction marks the biggest acquisition in Sherwin-Williams’ 150-year history. The move will create a global paint company with combined revenues of about $15.6 billion, adjusted earnings of $2.8 billion and about 58,000 employees.
The transaction, unanimously approved by the boards of directors of both companies, is still subject to approval by Valspar shareholders and other closing conditions. It is expected to close by the end of the first quarter of 2017.
Click here to read the full story.
