The Sherwin-Williams CompanyNYSE
Tue, Nov. 8, 8:24 AM
- Sherwin-Williams (NYSE:SHW) announces that Christopher Connor will retire from his position as Executive Chairman effective at the end of the year.
- Connor will remain a member of the Sherwin-Williams board until his current term ends in April 2017.
- CEO John Morikis has been tapped to assume the additional role of Chairman, effective January 1, 2017.
- Source: Press Release
Sat, Oct. 29, 2:03 PM
- Sherwin-Williams (NYSE:SHW) Valspar (NYSE:VAL) issue the following statement in response to unfounded market rumors concerning regulatory approvals for the definitive agreement between Sherwin-Williams and Valspar, which was announced on March 20, 2016:
- "Sherwin-Williams and Valspar continue to cooperate fully with the FTC staff and continue to expect the transaction will close by the end of Q1 calendar year 2017. Given the complementary nature of the businesses and the benefits this transaction will provide to customers, Sherwin-Williams and Valspar continue to believe that no or minimal divestitures should be required to complete the transaction."
- The transaction, which has been approved by Valspar shareholders, is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and regulatory approvals in various other jurisdictions.
Fri, Oct. 28, 2:47 PM
Tue, Oct. 25, 2:05 PM
Tue, Oct. 25, 7:01 AM
Mon, Oct. 24, 5:30 PM
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Wed, Jul. 20, 5:30 PM| Wed, Jul. 20, 5:30 PM | 13 Comments
Wed, Jul. 20, 1:12 PM
Wed, Jun. 29, 11:15 AM
- Valspar (VAL -0.2%) shareholders have approved the company's buyout by Sherwin-Williams (SHW -0.3%).
- The $11.3B deal (including debt) won approval at a special meeting held this morning. Sherwin-Williams expects heavy synergy as the companies' product mix and geographic splits are complementary.
- The deal's expected to close by the end of Q1 2017 following customary conditions and regulatory approval.
Thu, Apr. 21, 7:04 AM
- Sherwin Williams (NYSE:SHW): Q1 EPS of $1.81 beats by $0.19.
- Revenue of $2.57B (+4.9% Y/Y) beats by $90M.
Wed, Apr. 20, 5:30 PM
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Wed, Apr. 20, 12:27 PM
- Sherwin Williams (NYSE:SHW) declares $0.84/share quarterly dividend, in line with previous.
- Forward yield 1.12%
- Payable June 3; for shareholders of record May 20; ex-div May 18.
Mon, Mar. 21, 6:28 PM
- Analysts are bullish on Sherwin-Williams' (NYSE:SHW) $11.3B acquisition of Valspar (NYSE:VAL), believing the merger will provide a big boost to SHW's earnings and could lift the entire paints and coatings sector.
- Susquehanna's Don Carson is bullish on the deal, upgrading his rating on SHW to Positive from Neutral with a $370 price target, hiked from $260; he thinks the deal will be accretive to cash EPS by nearly $4.00 by 2018, including at least $2.05 in synergies, and believes there is little antitrust risk to the deal, since the two companies use different architectural channels in the U.S. and there is no overlap in the industrial coating business.
- VAL's packaging coatings business is a "crown jewel" within the space, and the combination increases SHW's exposure to U.S. do-it-yourself painters, international territories and industrial applications, catapulting SHW into a position of global leadership, Baird analyst Ghansham Panjabi says.
- SunTrust's James Sheehan argues the merger also is positive for PPG Industries (NYSE:PPG), as the deal could improve overall competitive dynamics in the coatings industry.
- In today's trade: VAL +23.2%, SHW -5.3%, PPG -0.1%, AXTA +1%, RPM +1.8%.