Sherwin-Williams to acquire Valspar

CLEVELAND, Ohio — Paint giant Sherwin-Williams reached a deal over the weekend to purchase Minneapolis-based rival Valspar for $9.3 billion. If finalized the transaction, approved unanimously by both boards, would see Sherwin-Williams assuming Valspar’s debt while gaining an edge in markets outside the U.S. and Canada. Although the companies expect anti-trust regulators to approve the sale without requiring any major divestitures, the agreement includes contingencies in the event of the unexpected. If authorities require the companies to sell off assets with revenues totalling more than $650 million, the purchase price will be adjusted to $105 per share, while Sherwin-Williams maintains an absolute opt-out if divestitures of more than $1.5 billion are required.