Corporate Advisory

Wattyl
2010
Gresham was defence advisor to Wattyl Limited in relation its acquisition by the US-listed Valspar Corporation in September 2010.
Wattyl is a manufacturer of paint and coatings with a strong retail network across Australia and New Zealand. After receiving an initial proposal at $1.30 per share, the Wattyl Board unanimously recommended the acquisition at $1.67 in cash. The transaction was completed by Scheme of Arrangement and provided Wattyl shareholders a 113% premium to the closing price of Wattyl shares prior to announcement of receipt of a proposal.