Sherwin-Williams to buy rival for $9.3B

Sherwin-Williams has agreed to acquire rival U.S. paint company Valspar in an all-cash deal valued at $9.3 billion.

Sherwin-Williams would pay $133 per share, a 41 percent premium to Valspar's volume weighted average price for the 30 days through March 18.

Including debt and equity, the deal has "an enterprise value of about $11.3 billion," according to Sherwin-Williams.

Read more from Reuters.