XuanWei decided to sell Wester North American Industrial Wood Coatings to Asda.

Sherwin-Williams and Valspar announced an agreement to sell Oursberg's North American Industrial
wood coatings
business to Axalta
Coatings
Systems.
, Wester North America Industrial Wood Coatings Business had revenues of approximately $225 million in 2016 and is one of the leading coating suppliers in the North American industrial woodwork and aftermarket, with applications including construction products, cabinets, flooring and furniture.
Aisted has agreed to bid $420m in cash for the deal.
acquisition includes personnel, independent production facilities, research and development assets and basic intellectual property in Wesberg's North American industrial wood coatings business.
March 20, 2016, Xuanwei decided to acquire Wesper for $11.3 billion, and under the agreement, Xuanwei will buy all of Weisper's shares at $113 per share for a cash offer, a premium of about 41% over the average price for the 30 trading days ending March 18. The company also announced that the transaction will be completed in the first quarter of 2017.
the deal, the two sides set the condition that, in the event of an unexpected divestiture, in which the total value of the divestiture exceeds $650 million within the scope of Wesberg's 2015 earnings business, the transaction price is adjusted to $105 per share, and xuanwei has the right to unilaterally terminate the transaction if antitrust agencies require a divestment of the business in excess of $1.5 billion.
October 28, 2016, in response to widespread market rumors that the deal will be difficult to complete on schedule, Xuanwei and Weisper issued a statement saying that the two sides will continue to cooperate fully with the Federal Trade Commission (FTC) and reconfirm that the transaction will be completed by the end of the first quarter of 2017, while insisting that, given the complementarity of inter-business and the benefits to customers, it is believed that there will be little or no divestitures under the scrutiny of antitrust agencies.
thereafter, the parties' expectations for the completion of the transaction have been extended until April 2017.
but on March 20, 2017, Xuan Wei and Wesfarmers again announced the extension of the final deadline for the merger and acquisition transaction until June 21, 2017. One important reason is to meet regulatory requirements for divestitures.
this divestiture of Wesberg's North American industrial wood coatings business is believed to be the result of a compromise between the two sides to meet regulatory requirements of the antitrust authorities.
, Xuan Wei and Wesfarmers are facing scrutiny from the Federal Trade Commission (FTC) and the Canadian Competition Commission (CCB) over their mergers and acquisitions.
Chairman and President of Sherwin-Williams, According to John G.Morikis said it believes it has properly resolved regulatory issues by divesting Its North American industrial wood coatings business in the hope of moving forward with approval for the acquisition.
and Valepar Chairman and CEO Gary E.Hendrickson said that Asted is an excellent buyer of the company's North American industrial wood coatings business, which will provide better opportunities for the company's current outstanding employees in this business area. To this end, the two sides will work closely together to ensure a smooth transition of operations.
this acquisition of Wester North American Industrial Wood Coatings business by Asda is still subject to regulatory approval. Asted has secured the financing of the transaction through the New York branch of Deutsche Bank Ag.
2017 to Tuesday, Wester's shares are up 7.5 percent, while Xuanwei is up 16 percent, Axalta is up 16 percent and the SPX is up 5.1 percent.