Sherwin-Williams Denied Mexico Acquisition

The home-products giant is nixed in its efforts to acquire Consorcio Comex.

By Tim Brugger – Jul 18, 2013 at 10:45PM EST

Sherwin-Williams' (SHW 2.70%) proposed acquisition of Mexico-based Consorcio Comex, originally announced Nov. 12, 2012, has been denied by the Federal Competition Commission of Mexico (FCCM), the company said today.

Three of the five FCCM commissioners voted against the deal. Sherwin-Williams is currently reviewing the decision and will "respond to the Commission's concerns in the near future," according to the release.

Sherwin-Williams Chairman and CEO Christopher Connor commented on the ruling, saying, "We are disappointed by this decision, but remain hopeful that we can adequately address the Commission's objections and proceed with the transaction."

Tim spends much of his day writing articles and content for The Fool and, not surprisingly, loves it! However, Tim still fancies himself a storyteller as well and will continue to pursue his passion for writing fiction. His first book, The Lives of Stupid People Volume 1 (The next, great American novel as you can tell from the title), was published in 2011, along with a couple award-winning short stories. Tim majored in business studies and marketing at the University of Oregon, remains an avid soccer player and crossword fanatic, and currently lives with his 3 children in Portland, OR.

timbrugger

@FoolInvesting

Sherwin-Williams Denied Mexico Acquisition

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