Paints maker Consorcio Comex SA de CV agreed to be acquired by chemicals maker PPG Industries Inc for $2.3 billion, after the Mexican company's deal with U.S. rival Sherwin-Williams Co fell through earlier this year.PPG's shares rose 3 percent after the announcement of the deal, which will help the company expand its paints offering in Mexico and Central America.Mexico's federal competition watchdog rejected Sherwin-Williams' proposed $2.34 billion offer takeover of Comex twice last year, saying it would create unfair market conditions.Comex, a family-owned company founded in 1952, said in May it was suing Sherwin-Williams because it had not tried hard enough to honor the deal.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Shares of PPG remained unchanged at $204.05. In the past year, the shares have traded as low as $144.58 and as high as $205.92. On average, 640527 shares of PPG exchange hands on a given day and today's volume is recorded at 12573.
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