Mexico. Directors of the company Sherwin Williams ratified their desire to acquire the Mexican firm Comex despite the fact that the Federal Commission of Economic Competition (CFCE) again denied the resource of consideration for the transaction to take place.
This request had already been rejected in July by the defunct Federal Competition Commission. Sherwin Williams Chief Executive Christopher Connor will meet with members of the commission to include in the request measures that meet the regulator's concerns.
The businessman was cautious and said that the information generated after future meetings will not be revealed. However, he made it clear that in case the deal does not succeed, Sherwin Williams has on the list a number of companies that he could acquire in Latin America.
The CFCE assures that the business between Sherwin Williams and Comex would generate a high market concentration that would not allow the rest of the companies to compete, especially in the architectural sector where the participation would be greater than 50%.
