THE VALSPAR CORPORATION (NYSE:VAL) Files An 8-K Regulation FD Disclosure
Item7.01.
| Regulation FD Disclosure. |
On April11, 2017, The Valspar Corporation (Valspar) and
The Sherwin-Williams Company (Sherwin-Williams) entered
into an asset purchase agreement (the APA) with Axalta
Coating Systems Ltd. (Axalta), to which Axalta has agreed
to acquire, subject to the terms and conditions of the APA, the
assets and liabilities related to Valspars North American
Industrial Wood Products business for a purchase price of
approximately $420 million in cash, subject to certain
adjustments. The divestiture of the North American Industrial
Wood Products business to the APA is in connection with the
reviews by the Federal Trade Commission and the Canadian
Competition Bureau of the proposed acquisition of Valspar by
Sherwin-Williams.
On April12, 2017, Valspar and Sherwin-Williams issued a joint
press release announcing their entry into the APA, which joint
press release is attached hereto as Exhibit 99.1.
Forward-Looking Statements
Information included in this Current Report (including
information included or incorporated by reference in this Current
Report) that look forward in time or that express beliefs,
expectations, or hopes are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are all statements other than
statements of historical facts. The words anticipates, may, can,
plans, believes, estimates, expects, projects, intends, likely,
will, should, to be and any similar expressions or other words of
similar meaning are intended to identify those assertions as
forward-looking statements. Such forward-looking statements
reflect the views of management at the time such statements are
made and are subject to a number of risks, uncertainties,
estimates, and assumptions that may cause actual results to
differ materially from current expectations. For a discussion of
additional factors impacting Valspars business, see Valspars
Annual Report on Form 10-K for the year ended October28, 2016, as
filed with the Securities and Exchange Commission (the
SEC) and Valspars subsequent filings with the SEC. For a
discussion of additional factors impacting Sherwin-Williams
business, see Sherwin-Williams filings with the SEC. None of
Valspar, Sherwin-Williams or Axalta undertakes to update or
revise any forward-looking statements, based on new information
or otherwise, except as required by applicable law.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
ExhibitNo. |
Description of Exhibit |
|
| 99.1 | Press Release, dated April12, 2017 |
About THE VALSPAR CORPORATION (NYSE:VAL)
The Valspar Corporation is engaged in developing, manufacturing and distributing a range of coatings, paints and related products. The Company operates through two segments: Coatings and Paints. The Coatings segment includes its industrial product lines and packaging product line. The Company offers decorative and protective coatings for metal, wood and plastic primarily for sale to original equipment manufacturing (OEM) customers in Africa, Asia, Australia, Europe, North America and South America. The Paints segment includes consumer paints and automotive paint refinishes product lines. The Company offers a range of paints, primers, topcoats and aerosol spray paints through retailers, distribution networks and the Company-owned stores. The Company offers a portfolio of interior and exterior decorative paints, stains, primers, varnishes and specialty decorative products, such as enamels, aerosols and faux finishes, used in both the do-it-yourself and professional markets. THE VALSPAR CORPORATION (NYSE:VAL) Recent Trading Information
THE VALSPAR CORPORATION (NYSE:VAL) closed its last trading session up +0.14 at 111.34 with 608,619 shares trading hands.