- The FTC requires that Sherwin-Williams (SHW +0.2%) divest assets as a condition for its $11.3B merger with Valspar (VAL +0.5%).
- "Under the terms of the consent agreement, Sherwin-Williams will divest to Axalta (NYSE:AXTA) two Valspar industrial wood coatings plants, one in High Point, North Carolina, and the other in Cornwall, Ontario. Axalta will also receive the research and development facilities, warehouses and testing facilities of Valspar’s Industrial Wood Coatings Business, as well as customer contracts, intellectual property, inventory, accounts receivable, government licenses and permits, and business records."
- FTC press release