UPDATE: FTC said to reject Sherwin-Williams' (SHW) acquisition of Valspar Corp. (VAL) - NY Post

October 28, 2016 11:40 AM EDT

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(Updated - October 28, 2016 11:43 AM EDT)

FTC said to reject Sherwin-Williams' (NYSE: SHW) acquisition of Valspar Corp. (NYSE: VAL), according to the NY Post.

UPDATE - The report notes that the Federal Trade Commission is unhappy with concessions put forth by Sherwin-Williams to close the deal.

One sources noted that there would need to be "significant" divestitures made to appease antitrust officials.

Many still expected that an agreement will be reached and a deal will be approved, though circumstances remain unclear.

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