![]() ![]() ![]() With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 4,100 company-operated stores and facilities, while the company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The company manufactures products under well-known brands such as Sherwin-Williams®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, and many more. We remain confident in our ability to complete the divestiture at a fair price, and we look forward to unlocking the value of the combined business when the Valspar acquisition closes.”įounded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of coatings and related products to professional, industrial, commercial, and retail customers. Morikis, Chairman, President and Chief Executive Officer of Sherwin-Williams, said, “We continue to move forward on the divestiture of a single business that we believe will allow us to gain approval from the FTC, and we are in discussions with a number of prospective buyers. The extension of the merger agreement to Jis intended to provide sufficient time to complete the Valspar acquisition. Sherwin-Williams no longer believes the divestiture will be completed, and the Valspar acquisition closed, by the end of April, and expects to provide more definitive timing for the divestiture and completion of the Valspar acquisition on its first quarter earnings conference call on April 20, 2017. At that time, Sherwin-Williams expected the divestiture and the Valspar transaction to be closed by the end of April 2017. As previously disclosed, the expected divestiture represents annual revenues well below the threshold of $650 million of Valspar 2015 revenues, such that the Valspar transaction is expected to be completed at a price of $113 per share. Sherwin-Williams previously reported in its 2016 year-end earnings release and 2016 Annual Report that it expected a divestiture would be required to gain approval from the Federal Trade Commission to complete the Valspar acquisition. CLEVELAND, OH and MINNEAPOLIS, MN – Ma– The Sherwin-Williams Company (NYSE: SHW) and The Valspar Corporation (NYSE: VAL) today announced that they have extended the termination date of the definitive agreement under which Sherwin-Williams will acquire Valspar for $113 per share in an all-cash transaction, from Mato June 21, 2017. ![]()
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