Shares of Sherwin-Williams (SHW) ended Monday's trading session with gains of 5.8%. The manufacturer and distributor of paint, coatings, and other related products announced the acquisition of Comex.
The Deal
Sherwin-Williams announced on Monday that it will acquire Mexican-based Comex, a leader in the paint and coating market in Mexico. Sherwin will pay $2.34 billion for the company, including debt, in an all cash transaction. Sherwin will issue new debt to finance the deal. It will continue to pay dividends, but share buyback programs will be reduced for the coming two years.
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