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Stock Market & Financial Investment News

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April 4, 2014
11:32 EDTSHWSherwin-Williams terminates stock purchase agreement for Comex Mexico
Sherwin-Williams announced that it sent notice to the sellers that effective immediately Sherwin-Williams is terminating the amended and restated stock purchase agreement, dated September 16, 2013, to acquire the Mexico business of Consorcio Comex. Under the terms of the agreement, either Sherwin-Williams or the sellers may terminate the agreement in the event that the closing of the acquisition did not occur on or prior to March 31 and such party is not in material breach of the agreement. Sherwin-Williams also announced that it filed a complaint for a declaratory judgment in the Supreme Court of the State of New York, New York County, requesting the court to declare that Sherwin-Williams has used commercially reasonable efforts as required under the stock purchase agreement and has not breached the agreement.
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