NEW YORK, March 22, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of The Valspar
Corporation ("VAL" or the "Company") in connection with the
proposed acquisition of the Company by The Sherwin-Williams Company
("Sherwin Williams"). On
March 20, 2016, VAL and
Sherwin-Williams jointly announced the proposed acquisition of VAL
pursuant to which VAL shareholders will receive $113 in cash for each VAL share they own.
WeissLaw is investigating whether VAL's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, John G. Morikis, the
President and CEO of Sherwin-Williams, announced that he expected
the transaction to be immediately accretive. Further, he
stated that "[VAL] is an excellent strategic fit with
Sherwin-Williams. The combination expands our brand portfolio
and customer relationships in North
America, significantly strengthens our Global Finishes
business, and extends our capabilities into new geographies and
applications, including a scale platform to grow in Asia-Pacific and EMEA. . . We are highly
confident in the industrial logic of the transaction and, once
closed, our ability to achieve $280
million of estimated annual synergies in the areas of
sourcing, SG&A and process and efficiency savings within two
years and our long-term annual synergy target of $320 million."
Given these facts, WeissLaw is investigating whether VAL's Board
acted in the best interests of VAL's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Sherwin-Williams. If you
own VAL shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP