Most popular Xuanwei completed the acquisition of

2022-08-06
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Xuanwei completed the acquisition of Valspar, becoming the world's largest paint manufacturer. Xuanwei completed the acquisition of Valspar, becoming the world's largest paint manufacturer. On June 2, 2017, Xuanwei announced that the company had completed the acquisition of Valspar- Creating a global leader in coatings and coatings

the company has completed the acquisition of the Valspar Corporation (nyse: VAL). According to the terms of the merger agreement, the shareholders of Valspar will receive $113 in cash per share. Due to the completion of the transaction, the trading of ordinary shares of Valspar will be stopped before the opening today and will be delisted from the New York Stock Exchange

chairman Xuan Wei John G. morikis, President and CEO, said: "We are very happy to complete this transaction. I formally welcome the talented employees of Valspar to join us. This acquisition has accelerated the global growth strategy of Xuanwei and created a global leader in coating and coating. After the merger, the two companies have formed a world-class brand portfolio, expanded the product range, advanced technology and innovation platform and global footprint. The stronger strength after the merger will benefit our customers and create sustainable growth for our shareholders Period value. "

after the merger, the company is headquartered in Cleveland, Ohio, with an estimated revenue of $15.8 billion in 2016 and about 60000 employees worldwide. The company is a leader in the construction coating market in North America, South America, China, Australia and the United Kingdom. In the field of industrial coatings, the merged company is a global leader in the fields of packaging coatings, coil coatings, general industrial coatings and industrial wood coatings

on may2,2017, Xuan Wei submitted an interim report on form 8-K, including the unaudited financial report on the acquisition of Valspar at the beginning of 2016

as previously announced, Xuanwei is expected to achieve an annual synergy of $320million in three years. These effects will come from raw material procurement, sales, management and administrative expenses, process optimization and efficiency improvement. The company expects that this transaction will immediately increase profits (excluding one-time costs) and increase the company's operating cash flow in the long term

Xuan Wei will release the second quarter financial report as of June 30, 2017 on Thursday, July 20, 2017. At the same time, Xuan Wei predicted that the use of plastic shopping bags in supermarkets and shopping malls in the third quarter of 2017 and the whole year after the merger of foam granulator cloth, the company generally decreased by more than 2/3, and held meetings to answer public questions. Details of the meeting will be released in the coming weeks

on may2,2017, Xuanwei issued senior notes to finance the acquisition of Valspar. The company has issued US $6billion notes with maturities of 3 years, 5 years, 7 years, 10 years and 30 years respectively, and the average comprehensive interest rate is about 3.2%

in the quarterly dividend announcement issued by Valspar on May 19, 2017, it was stated that since the merger was completed before the end of business on June 1, 2017, the quarterly dividend payable by Valspar on June 8, 2017 would no longer be paid

the exchange offer previously announced by Xuan Wei involving all the outstanding bills of Valspar expired at 9:00 a.m. on June 1, 2017 (New York City time) compared with the traditional EPS sheet. After 5:00 p.m. on may31,2017 (New York City time), there was no other offer to acquire the outstanding notes of Valspar

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