Sherwin-Williams Co., the largest U.S. paint retailer, said it agreed to buy rival Valspar Corp. for about $9.3 billion.
Sherwin-Williams will pay $113 a share in an all-cash transaction, the companies said Sunday in a statement. The price is about 41 percent higher than Valspar’s volume-weighted average price for the 30 days through March 18, according to the statement. Valspar closed on Friday at $83.83.
Also read: United Technologies Keeps Eye on a Breakup