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Sherwin-Williams cancels Comex acquisition

4:11 PM MDT | April 17, 2014

Sherwin-Williams (SW) has announced 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 United States 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 2013 and denied SW’s appeal in November 2013, saying that SW and Comex would together control about half of...

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