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Chemical Week Magazine :: Business & Finance :: United States/Americas
Mexican authorities halt Sherwin-Williams’ Comex acquisition
11:14 AM MDT | July 26, 2013 | —Vincent Valk
Sherwin-Williams (SW) says that Mexico’s federal competition commission has voted three to two against authorizing the company’s $2.34-billion acquisition of Comex, which was announced in November 2012. SW is “reviewing the rationale for the commission’s decision,” the company says. The commission said that the acquisition would significantly reduce competition in the Mexican decorative paint market. The combined entity would control 48–58% of the decorative paint market in Mexico, making it 6–10 times larger than the...
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