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Markets :: Specialty Chemicals :: Paints and Coatings

Sherwin-Williams terminates Comex Mexico acquisition

11:17 AM MDT | April 4, 2014 | Vincent Valk

Sherwin-Williams (SW) announced today that it is terminating its agreement to acquire Mexican paint supplier Comex, which has run into antitrust issues in Mexico. SW has already completed the acquisition of Comex’s operations in the US and Canada. The deal with Mexican Comex allowed for termination if the transaction did not close prior to 1 April, SW says. Mexico’s federal competition commission ruled against the acquisition in July, and denied SW’s appeal in November, saying that CW and Comex would together control about half of Mexico’s...

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