US Sherwin-Williams may refile deal for Mexico's Comex with regulator

30 October 2013 13:34  [Source: ICIS news]

HOUSTON (ICIS)--Sherwin-Williams is reviewing a ruling by Mexico’s competition regulator against Sherwin’s proposed takeover of Mexican paint and coatings firm Consorcio Comex and may refile the case, the US-based paint and coatings major said on Wednesday.

In a brief statement, Sherwin-Williams said that Mexico’s Federal Economic Competition Commission informed the company on 29 October that the company's appeal relating to its pending acquisition of Consorcio Comex was denied and that the acquisition is not authorised. 

“The company is currently reviewing the commission's decision and is considering all options, including whether to refile with the commission,” it said.

Last month, Sherwin said that it completed the acquisition of Comex but that the deal still had to be authorised by the commission. The commission rejected the deal in July but Sherwin appealed that ruling. The companies agreed the deal in November 2012.

Additional reporting by Jeremy Pafford


By: Stefan Baumgarten
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