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CLEVELAND, Ohio -- Cleveland-based Sherwin-Williams Co. has announced it is acquiring the Valspar Corp., a Minneapolis-based global paints and coatings company, in an all-cash deal for $113 per share, or about $11.3 billion.
The transaction, the biggest acquisition in Sherwin-Williams' 150-year-history, would create a global paint company with combined revenues of about $15.6 billion, adjusted earnings of $2.8 billion, and about 58,000 employees.

Janet H. Cho, The Plain Dealer
on March 20, 2016 at 1:29 PM, updated March 21, 2016 at 2:46 PM
Morikis selected to lead company  Current president, COO will replace Connor as CEO in 2016
Sherwin-Williams Co. President and Chief Executive Officer John G. Morikis announced on Sunday that the Cleveland-based paint company is acquiring the Valspar Corp., a Minneapolis-based global paints and coatings company, in an all-cash deal for $113 per share, or about $11.3 billion. (Lisa DeJong, Plain Dealer file) (Lisa DeJong, Plain Dealer file)
Those figures include estimated annual synergies of $280 million in sourcing, selling, general and administrative expenses, and process and efficiency savings within two years, after the deal closes.

Jan Tanis
Jan Tanis

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