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Mexico: Regs chip away at $2.3B Sherwin-Williams’ buyout plan

By  |  July 18, 2013
Mexico: Regs chip away at $2.3B Sherwin-Williams’ buyout plan

The largest paint retailer in the US has been blocked by Mexican competition regulators from acquiring Consorcio Comex in a deal planned for $2.34 billion. Sherwin-Williams will not be allowed to acquire the Mexico-based paint company, leading to a drop in shares for the first time in nearly four years for the firm. In a statement, the paint giant said it remained optimistic it could still complete the transaction. If cleared, the merger would have placed Sherwin-Williams at the top of the globe’s architectural paints market, and double assets for the company within Mexico. An interview with the paint company’s CEO last year revealed the company was confident the merger would be approved as there was little overlap between the parties.

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