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Mexico: Sherwin-Williams receives bad news from merger authorities

 |  October 30, 2013

US paint giant Sherwin-Williams has received more bad news in relation to its attempted buyout of Mexico-based firm Consorcio Comex, say reports.

Mexico’s Federal Economic Competition Commission has reportedly denied Sherwin-Williams’ appeal of a decision that blocked the buyout, thereby denying the company from the acquisition for a second time.

The paint conglomerate is reportedly reviewing the decision.

The $2.34 billion acquisition was agreed upon last year as part of Sherwin-Williams’ efforts to expand in Latin America. Mexican authorities first denied the merger last July.

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