Sherwin-Williams Buying Valspar for $11.3B

Sherwin-Williams, which has long claimed to "cover the Earth" with its paints, is buying rival Valspar for about $9 billion in a move that it says will expand its reach in Asia and Europe. Sherwin-Williams said Sunday that it's paying $113 a share in cash, a 35 percent premium to the closing price of Valspar's stock Friday. It valued the deal at $11.3 billion, including the assumption of about $2 billion in Valspar debt.