Fitch reviews Sherwin-Williams

Fitch Ratings said it placed the ratings of Sherwin-Williams Co. on Rating Watch Negative following the proposed acquisition of Valspar Corp.

Sherwin-Williams and Valspar entered into a definitive agreement under which Sherwin-Williams will acquire Valspar for $11.3 billion, including the assumption of $2 billion of debt.

Fitch expects to resolve the Watch Negative upon further review of the transaction and when Fitch becomes reasonably comfortable that the company will be able to obtain the necessary regulatory approvals to complete the transaction.

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