Published March 20, 2016 1:20pm EDT | Updated March 20, 2016 2:03pm EDT

Sherwin-Williams To Acquire Valspar In Deal Valued At $11.3 Billion

Sherwin-Williams said Sunday that it has reached a deal to acquire paint-industry rival Valspar in a deal it valued at $11.3 billion. Sherwin-Williams , based in Cleveland, said it would pay $113 in cash for each share of Valspar, whose headquarters are in Minneapolis. Valspar's stock closed Friday at $83.83 and notched a 52-week high of $88.17 in November. The companies said they will host a conference call Monday at 8 a.m. Eastern time to further detail the transaction.