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 email@example.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 firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP