The Sherwin-Williams Company (NYSE:SHW) and The Valspar Corporation (NYSE:VAL) announced that, as expected, the companies have each received a request for additional information and documentary material, a Second Request, from the United States Federal Trade Commission (FTC) in connection with Sherwin-Williams’ pending acquisition of Valspar. The Second Request was issued under notification requirements of the Hart-Scott-Rodino (HRS) Antitrust Improvements Act. According to the companies, this second request is a common part of the regulatory process in connection with the FTC’s review.
In March, Sherwin-Williams announced an agreement to acquire Valspar for $11.3 billion.
The effect of the Second Request is