Sherwin-Williams Cancels Bid for Comex Mexico Unit

Sherwin-Williams Co., the largest U.S. paint retailer, terminated its agreement to acquire the Mexican operations of Consorcio Comex SA after antitrust regulators blocked the deal.

Either party may cancel the deal without being in material breach of the agreement since the acquisition wasn’t completed by March 31, Cleveland-based Sherwin said today in a statement. Mexico City-based Comex, the country’s largest paint maker, on April 1 said Sherwin had breached the agreement.