Sherwin-Williams repaints Valspar in merger

Sherwin-Williams Co has acquired Valspar Corp, it announced on Thursday.
Under the terms of the merger agreement, Valspar shareholders will receive US$113 per share in cash as Valspar common stock ceases trading and will be delisted from the New York Stock Exchange.
“I would like to officially welcome our new colleagues from Valspar and the tremendous talent they bring to Sherwin-Williams,” president and chief executive John Morikis said. 
“The acquisition accelerates Sherwin-Williams’ global growth strategy and creates the global leader in paints and coatings. The combination of these two companies creates a world-class brand portfolio, expanded product range, premier technology and innovation platforms and an extensive global footprint. These enhanced capabilities will benefit our customers and create sustainable long-term value for our shareholders.”
With corporate headquarters in Cleveland, Ohio, in the United States, the combined company generated pro forma 2016 revenues of $15.8 billion and employs approximately 60,000 associates worldwide. 
It has a prominent market position in architectural paint in North and South America, China, Australia and Britain. In industrial coatings, the combined company is a global market leader in packaging coatings, coil coatings, general industrial coatings and industrial wood coatings.