Valspar-SHW is one step closer to 'official'

Now that Valspar's shareholders have approved of the pending Valspar-Sherwin-Williams deal, the acquisition is one step closer to completion.

At the company's Special Meeting of Shareholders held June 29, Valspar shareholders voted to approve the company's proposed acquisition by The Sherwin-Williams Company.

The transaction remains subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and regulatory approvals in various other jurisdictions.

It is expected to close by the end of the first quarter in 2017.