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Sherwin Takes Comex

Nov 13, 2012

Sherwin-Williams has agreed to acquire Mexico’s Consorcio Comex for $2.34bn, it says. The US paint maker is to pay cash, and will also assume an unspecified amount of debt, in order to gain access to a higher-growth Mexican market. The sale of family-owned Comex is heard to come at the end of a competitive bidding process involving multiple parties. Analysts found it difficult to determine the multiple implied in...

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