Will acquire competitor for $113 per share or $11.3 billion. Deal expected to close Q1 2017.
The Sherwin-Williams Company (NYSE: SHW) and The Valspar Corporation (NYSE: VAL) announced that they have entered into an agreement for Sherwin-Williams to acquire Valspar for $113 per share in an all-cash transaction, or an enterprise value of approximately $11.3 billion.
The transaction has been unanimously approved by the Boards of Directors of both companies and, at $113 per share, represents a premium of approximately 41 percent to Valspar’s volume weighted average price for the 30 days up to and including March 18.
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