Update on Finish Company Consolidations
To complete the purchase of Valspar by Sherwin-Williams, Valspar was required to spin off its wood coatings division to Axalta, which it did. (I had never heard of Axalta before, but it is a large company headquartered in Philadelphia with lots of coatings divisions.) The sale of Valspar to Sherwin-Williams is expected to close on June 21.
PPG met with resistance from AkzoNobel’s stockholders. PPG tried three times before finally giving up. So AkzoNobel remains independent.
You know from my previous postings that I think all these consolidations work against our interests as consumers.