The Sherwin-Williams Company (BMV:SHW) Files An 8-K Other Events
Item 8.01. Other Events.

As previously disclosed, on March 19, 2016, The Sherwin-Williams Company (“Sherwin-Williams”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) among Sherwin-Williams, Viking Merger Sub, Inc., a wholly owned subsidiary of Sherwin-Williams (“Merger Sub”), and The Valspar Corporation (“Valspar”), to which, among other things and subject to the satisfaction or waiver of specified conditions, Merger Sub will merge with and into Valspar (the “Merger”).

Sherwin-Williams has also previously disclosed that it expected a divestiture would be required to gain approval from the Federal Trade Commission to complete the Merger. In order to satisfy such divestiture requirement, on April 11, 2017, Sherwin-Williams and Valspar entered into a definitive Asset Purchase Agreement (the “Purchase Agreement”) with Axalta Coating Systems Ltd. to divest the assets related to Valspar’s North American industrial wood coatings business for an aggregate purchase price of approximately $420 million in cash. The closing of the divestiture to the Purchase Agreement is expected to occur before the end of the second quarter of 2017, subject to the satisfaction or waiver of certain closing conditions.

The divestiture represents annual revenues below the threshold of $650 million of Valspar 2015 revenues, such that the Merger is expected to be completed at a price of $113 per share. The completion of the Merger remains subject to customary conditions, including, without limitation, the receipt of antitrust approvals. Subject to the satisfaction of these conditions, Sherwin-Williams expects to complete the Merger before the end of the second quarter of 2017.

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The Sherwin-Williams Company (BMV:SHW) Recent Trading Information

The Sherwin-Williams Company (BMV:SHW) closed its last trading session 00.00 at 5,829.05 with 355 shares trading hands.