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US/Mexico: Comex takeover finalized

 |  November 5, 2014

US-based chemicals conglomerate PPG Industries said Wednesday that it has officially finalized its takeover of Mexico paint maker Comex.

The $2.3 billion deal was completed after Mexico’s competition watchdog COFECE gave clearance for the deal late last week.

COFECE had twice rejected earlier efforts by Comex to merge with US rival Sherwin-Williams, a $2.34 billion transaction that ultimately imploded.

Following the failure of that deal, Comex inked a deal with PPG.

Full content: Reuters

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