Mexico regulator rejects Sherwin-Williams’ deal to acquire Comex

18 July 2013 15:17  [Source: ICIS news]

HOUSTON (ICIS)--Mexico’s federal competition commission has rejected Sherwin-Williams' $2.34bn (€1.78bn) deal to acquire Mexican coatings and paint firm Consorcio Comex, the US-based coatings and paint major said on Thursday.

The commission decided – in a 3-2 vote - to not authorise the deal agreed last November.

"The company is reviewing the rationale for the commission’s decision and expects to respond to the commission’s concerns in the near future," Sherwin-Williams said in a brief statement.

Sherwin-Williams CEO Christopher Connor said: "We are disappointed by this decision, but remain hopeful that we can adequately address the commission’s objections and proceed with the transaction."

($1 = €0.76)


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index