Sherwin-WilliamsによるValsparの買収が完了、世界有数のペイント会社に

The Sherwin-Williams Company

Sherwin-WilliamsによるValsparの買収が完了、世界有数のペイント会社に

AsiaNet 68725 (0788)

【クリーブランド2017年6月2日PR Newswire=共同通信JBN】 Sherwin-Williams Company(NYSE: SHW)は1日、Valspar Corporation(NYSE: VAL)の買収を完了したと発表した。Valsparの株主は合併契約の条件に基づいて持ち株1株につき113ドルの現金を受け取る。Valsparの普通株は1日の市場寄り付き前に取引中止となり、ニューヨーク証券取引所の上場を廃止する。

Logo - http://mma.prnewswire.com/media/346043/The_Sherwin_Williams_Company_Logo.jpg

Logo - http://mma.prnewswire.com/media/346042/valspar_Logo.jpg

写真 - http://mma.prnewswire.com/media/518557/SWEmerald_Medallion.jpg

写真 - http://mma.prnewswire.com/media/518558/SWVertical_Valspar_Combined.jpg

Sherwin-Williamsのジョン・G・モリキス社長兼最高経営責任者(CEO)は「この買収完了を喜んでいる。Valsparから新しい仲間と、彼らがSherwin-Williamsにもたらす素晴らしい能力を、真正面から歓迎したい。Valsparとの合併でSherwin-Williamsのグローバル成長戦略が加速され、ペイント・塗料の世界的リーダーが生まれる。この両社の合併によって、世界クラスのブランド・ポートフォリオ、製品の拡大、一流の技術、イノベーションのプラットフォーム、広範な世界展開が可能になる。こうした機能の向上が顧客の役に立ち、われわれの株主に、長期に持続する価値をつくる」と語った。

合併会社はオハイオ州クリーブランドに本社を置き、2016年のプロフォーマ方式の売上高は158億ドル、世界全体の従業員は約6万人。南北米州と南アフリカ、中国、オーストラリア、英国では建設用ペイント市場で巨大なシェアを持ち、包装塗料やコイル塗料、一般産業塗料、産業木材塗料といった産業用塗料の分野でも世界のマーケットリーダーになる。

Sherwin-Williamsは2017年5月2日、Valspar買収を盛り込んだ2016年のプロフォーマ方式の財務諸表(非監査)を含むフォーム8-Kの最新報告を提出した。

Sherwin-Williamsは以前明らかにしたように、資材調達や販売管理費、作業工程、効果的節約の分野で、3年以内に年間3億2000万ドルの合併効果が達成できるとみている。今回の合併で利益(一時的経費を除く)が早期に増え、営業キャッシュフローもかなり増える見通しだ。

Sherwin-Williamsは2017年6月30日に終わる第2四半期の決算を、2017年7月20日に発表する。その時に合併会社の第3四半期と2017年度の業績見通しを明らかにし、カンファレンスコールを開いて質問に答える。カンファレンスコールの詳細は今後数週間のうちに公表する。

Sherwin-Williamsは2017年5月2日、Valspar買収の資金を得るために優先社債を発行した。社債の金額は60億ドルで、満期の期間は3年、5年、7年、10年、30年、混合平均金利は3.2%程度だった。

すでに明らかにしたようにValsparの四半期配当についての発表は2017年5月19日に出されている。2017年6月1日の営業日前に合併が完了したため、2017年6月8日に支払い予定のValsparの四半期配当は支払われない

Sherwin-Williamsが先に発表したValsparのすべての発行済み社債の交換提案は、ニューヨーク時間2017年6月1日午前9時に終了した。ニューヨーク時間2017年5月31日午後5時以降に発行済みValspar社債の引き取りは行われない。

▽Sherwin-Williamsについて

1866年創業のSherwin-Williamsは、専門、産業、商業、小売りの各顧客にペイント、塗料および関連製品を生産、開発、供給、販売するグローバルリーダー。Sherwin-Williams(R)、Valspar(R)、HGTV HOME(R)by Sherwin-Williams、Dutch Boy(R)、Krylon(R)、Minwax(R)、Thompson's(R)、Water Seal(R)、Cabot(R)など多くのブランドで製品を生産している。本社はオハイオ州クリーブランド。 Sherwin-Williams(R)のブランド製品は4100カ所の直轄のチェーン店や施設で独占的に売られ、そのほかのブランド製品は大手小売店やホームセンター、独立系ペイントディーラー、ハードウエア店、自動車販売店、産業供給業者を通して販売している。Sherwin-Williams Performance Coatings Groupは世界120カ国以上で建設や産業、包装、運輸市場向けの幅広い高機能ソリューションを提供している。Sherwin-Williamsの株式はニューヨーク証券取引所(symbol: SHW)で取引されている。詳しい情報はwww.sherwin.com を参照。

▽問い合わせ先

The Sherwin-Williams Company:

Investor Relations Contact:

Bob Wells

Senior Vice President, Corporate Communications and Public Affairs

Sherwin-Williams

+1-(216)-566-2244

rjwells@sherwin.com;

Media Contacts:

Mike Conway

Director, Corporate Communications

Sherwin-Williams

+1-(216)-515-4393  

mike.conway@sherwin.com; Or

Sard Verbinnen & Co

Jim Barron / Jared Levy / Patrick Scanlan

+1-(212)-687-8080

ソース:The Sherwin-Williams Company

Sherwin-Williams Completes Acquisition Of Valspar, Creates The Global Leader In Paint And Coatings

PR68725

CLEVELAND, June 2, 2017 /PRNewswire=KYODO JBN/--

The Sherwin-Williams Company (NYSE: SHW) today announced it has completed its

acquisition of The Valspar Corporation (NYSE: VAL). Under the terms of the

merger agreement, Valspar shareholders will receive $113 per share in cash. In

connection with completion of the transaction, Valspar common stock ceased

trading prior to market opening today and will be delisted from the New York

Stock Exchange.

Logo -

http://mma.prnewswire.com/media/346043/The_Sherwin_Williams_Company_Logo.jpg

Logo - http://mma.prnewswire.com/media/346042/valspar_Logo.jpg

Photo - http://mma.prnewswire.com/media/518557/SWEmerald_Medallion.jpg

Photo - http://mma.prnewswire.com/media/518558/SWVertical_Valspar_Combined.jpg

John G. Morikis, Chairman, President and Chief Executive Officer of

Sherwin-Williams, said, "We are pleased to complete this transaction, and I

would like to officially welcome our new colleagues from Valspar and the

tremendous talent they bring to Sherwin-Williams. The acquisition of Valspar

accelerates Sherwin-Williams' global growth strategy and creates the global

leader in paints and coatings.  The combination of these two companies creates

a world class brand portfolio, expanded product range, premier technology and

innovation platforms and an extensive global footprint. These enhanced

capabilities will benefit our customers and create sustainable long-term value

for our shareholders."

With corporate headquarters in Cleveland, Ohio, the combined company generated

pro forma 2016 revenues of $15.8 billion and employs approximately 60,000

associates worldwide.  It has a prominent market position in architectural

paint in North America, South America, China, Australia and the UK.  In

industrial coatings, the combined company is a global market leader in

packaging coatings, coil coatings, general industrial coatings and industrial

wood coatings.

On May 2, 2017, Sherwin-Williams filed a Current Report on Form 8-K containing

unaudited 2016 pro forma financial statements reflecting the acquisition of

Valspar.

As previously communicated, Sherwin-Williams expects to achieve $320 million of

annual run-rate synergies in the areas of sourcing, SG&A and process and

efficiency savings, within three years. The company also expects this

transaction to be immediately accretive to earnings (excluding one-time costs)

and to meaningfully increase the Company's operating cash flow.

Sherwin-Williams will announce financial results for the second quarter ended

June 30, 2017 on Thursday, July 20, 2017. At that time, Sherwin-Williams will

provide its outlook on the combined company for the third quarter and full year

2017, and conduct a conference call to answer questions.  Further details

regarding the call will be available in coming weeks.

On May 2, 2017, Sherwin-Williams conducted a senior notes offering to provide

financing for the Valspar acquisition. The company placed $6 billion in bonds

with maturities of 3, 5, 7, 10 and 30 years at a blended average interest rate

of approximately 3.2 percent.  

As previously communicated in Valspar's quarterly dividend announcement issued

May 19, 2017, because the merger was completed prior to the close of business

on June 1, 2017, the Valspar quarterly dividend payable on June 8, 2017 will

not be paid.

Sherwin-Williams' previously announced exchange offers for any and all

outstanding Valspar notes have expired as of 9:00 a.m., New York City time, on

June 1, 2017. There were no additional tenders of outstanding Valspar notes

since 5:00 p.m., New York City time, on May 31, 2017.

About Sherwin-Williams  

Founded in 1866, The Sherwin-Williams Company is a global leader in the

manufacture, development, distribution, and sale of paints, coatings and

related products to professional, industrial, commercial, and retail customers.

The company manufactures products under well-known brands such as

Sherwin-Williams(R), Valspar(R), HGTV HOME(R) by Sherwin-Williams, Dutch

Boy(R), Krylon(R), Minwax(R), Thompson's(R) Water Seal(R), Cabot(R) and many

more. With global headquarters in Cleveland, Ohio, Sherwin-Williams(R) branded

products are sold exclusively through a chain of more than 4,100

company-operated stores and facilities, while the company's other brands are

sold through leading mass merchandisers, home centers, independent paint

dealers, hardware stores, automotive retailers, and industrial distributors.

The Sherwin-Williams Performance Coatings Group supplies a broad range of

highly-engineered solutions for the construction, industrial, packaging and

transportation markets in more than 120 countries around the world.

Sherwin-Williams shares are traded on the New York Stock Exchange (symbol:

SHW). For more information, visit www.sherwin.com.

Cautionary Statement Regarding Forward-Looking Information

This communication contains forward-looking information about Sherwin-Williams

and the transaction.  Forward-looking statements are statements that are not

historical facts. These statements can be identified by the use of

forward-looking terminology such as "believe," "expect," "may," "will,"

"should," "project," "could," "plan," "goal," "potential," "pro forma," "seek,"

"intend" or "anticipate" or the negative thereof or comparable terminology, and

include discussions of strategy, financial projections, guidance and estimates

(including their underlying assumptions), statements regarding plans,

objectives, expectations or consequences of announced transactions, and

statements about the future performance, operations, products and services of

Sherwin-Williams and its subsidiaries.  Sherwin-Williams cautions readers not

to place undue reliance on these statements.  These forward-looking statements

are subject to a variety of risks and uncertainties.  Consequently, actual

results and experience may materially differ from those contained in any

forward-looking statements.  Such risks and uncertainties include the

following: Sherwin-Williams' ability to successfully integrate Valspar; risks

inherent in the achievement of cost synergies and the timing thereof, including

whether the transaction will be accretive and within the expected timeframe;

fluctuations in the availability and prices of raw materials; difficult global

economic and capital markets conditions; risks associated with revenues from

foreign markets; interruption, failure or compromise of Sherwin-Williams'

information systems; and changes in the legal and regulatory environment.

Sherwin-Williams makes no commitment to revise or update any forward-looking

statements in order to reflect events or circumstances occurring or existing

after the date any forward-looking statement is made.

CONTACTS:

For The Sherwin-Williams Company:

Investor Relations Contact:

Bob Wells

Senior Vice President, Corporate Communications and Public Affairs

Sherwin-Williams

+1-(216)-566-2244

rjwells@sherwin.com;

Media Contacts:

Mike Conway

Director, Corporate Communications

Sherwin-Williams

+1-(216)-515-4393  

mike.conway@sherwin.com; Or

Sard Verbinnen & Co

Jim Barron / Jared Levy / Patrick Scanlan

+1-(212)-687-8080

SOURCE: The Sherwin-Williams Company

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