Deals
Sherwin-Williams to Buy Paint Maker Comex for $2.34 Billion
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Sherwin-Williams Co., the largest U.S. paint retailer, agreed to acquire closely held Consorcio Comex SA de CV for about $2.34 billion including debt to gain Mexico’s largest paint maker as housing demand improves. The shares rose the most in more than a year.
Sherwin-Williams will fund the all-cash deal by selling $2 billion in 5-, 10- and 30-year bonds, the Cleveland-based company said in a presentation today on its website. It didn’t specify how much debt it’s assuming. The acquisition would be the biggest takeover in Mexico by a U.S. company since 2004, according to data compiled by Bloomberg.