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Pratt & Lambert United and Sherwin-Williams reach merger agreement; Pratt & Lambert United reports third-quarter results.
Business Wire
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November 6, 1995
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COPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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BUFFALO, N.Y.--(BUSINESS WIRE)--Nov. 6, 1995--Pratt & Lambert United, Inc. and The Sherwin-Williams Company today jointly announced that they had signed a merger agreement providing for Sherwin-Williams to acquire all of the outstanding shares of Pratt & Lambert United for a cash price of $35 per share, or a total purchase price of approximately $400 million. Sherwin-Williams also entered into an agreement with holders of approximately 40% of Pratt & Lambert United's common stock, who have granted an option to Sherwin-Williams to purchase their shares for $35 per share.
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