Xuanwei will buy Wesberg Coatings for $9.3 billion.

coatings
:
sherwin-Williams has agreed to buy rival Valspar for about $9.3bn.
Xuanwei said in a statement Sunday (March 20, local time) that the deal was priced at $113 a share, about 35 percent higher than Friday's closing price of $83.83, when Wiesberger's market value reached $6.63 billion.John Morikis, chief executive of
Xuanwei, said in an interview that The integration will help Xuanwei expand its presence in Asia Pacific and Europe, and that such integration will also transform Xuanwei from the world's third-largest
coatings company,
, into the world's largest paint manufacturer, Super PPG and AkzoNobel.
strategic significance of this transaction is that it will help Xuanwei advance its business in DIY customers, international markets and
industrial coatings
markets.
Xuanwei's shares have risen 11 per cent this year, closing at $288.69 on Friday. The share price has more than tripled in the past five years, and Wesberg's share price has doubled. The companies said they did not expect the deal to face major obstacles from antitrust regulators, but that if regulators asked Xuanwei to divest assets with revenues of more than $650 million, the price would fall to $105 a share, and Xuanwei would have the right to terminate the deal if more than $1.5 billion of business divestiture units needed approval.
total sales in 2015 reached $11,339.3 million, up $209.3 million from last year and surpassing Akzo Nobel's sales ($10,876.5 million) after akzo Nobel excluded specialty chemicals for the first time, second only to PPG, according to Xuanwei Coatings' 2015 earnings.
Xuanwei company's service market mainly includes: industrial coatings, electronic products coatings, wood furniture coatings,
building coatings
,
automotive coatings
, heavy corrosion and
ship coatings
.