Deals
Sherwin-Williams to Acquire Valspar in $9.3 Billion Paint Deal
- Combination creates the world's largest coatings company
- Deal helps Sherwin-Williams expand outside U.S., CEO says
This article is for subscribers only.
Sherwin-Williams Co., the largest U.S. paint retailer, said it agreed to buy rival Valspar Corp. for about $9.3 billion in cash to become the world’s biggest coatings maker.
Sherwin-Williams will pay $113 a share, the companies said Sunday in a statement. The price is about 35 percent higher than Valspar’s closing price of $83.83 on Friday, when its market value reached $6.63 billion. Valspar jumped 26 percent to $106 in pre-market trading.