Mergers and acquisitions
Sherwin-Williams closes deal for Valspar
The Sherwin-Williams Co., Cleveland, officially closed on its acquisition of Minneapolis-based Valspar Corp. for $113 per share, or approximately $11.3 billion. With the closing, shares of Valspar officially stopped trading and were delisted from the New York Stock Exchange Thursday.
The combined company will have pro forma revenue of $15.8 billion and approximately 60,000 employees worldwide.
Digi consolidates European sales office
Digi International Inc., Minnetonka, announced that it is restructuring sales offices in Europe. The company will eliminate eight sales positions in France and move the European, Middle East and Asia sales headquarters to its Munich office. The company expects to record $2.1 to $2.4 million in restructuring related expenses.