PPG Industries, Inc. to Acquire Consorcio Comex for $2.3B (PPG)

PPG Industries, Inc. (PPG) announced on Monday morning that it has agreed to acquire Consorcio Comex, S.A. de C.V.

PPG will acquire architectural and industrial coatings company Consorcio Comex for approximately $2.3 billion. The deal is subject to regulatory approvals and customary closing conditions. PPG reported that it plans to fund the deal with currently held cash and short term investments.

Comex is Mexico-based coatings manufacturer that sells its products in 3,600 stores in Mexico and Central America. The company is a privately held company and was founded in 1952.

PPG Dividend Snapshot

As market close on June 27, 2014

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PPG Industries shares were up $5.97, or 2.93% during pre-market trading Monday. The stock is up 7.59% YTD.