The Sherwin-Williams Co. and The Valspar Corp. recently announced that they have entered into a definitive agreement under which Sherwin-Williams will acquire Valspar for $113 per share in an all-cash transaction, or an enterprise value of approximately $11.3 billion. The transaction, which was unanimously approved by the Boards of Directors of both companies, reportedly represents a premium of approximately 41% to Valspar’s volume weighted average price for the 30 days up to and including March 18.
The transaction reportedly enhances Sherwin-Williams’ position as a premier global coatings provider. The combined company would have pro forma 2015 revenues and adjusted EBITDA (including estimated annual synergies) of approximately $15.6 billion and $2.8 billion, respectively, with approximately 58,000 employees.
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