Your daily dose of financial news The Brief – 3.21.16

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Major home-improvement news this weekend, as Sherwin-Williams put up more than $9 billion to purchase  Minneapolis-based Valspar. The deal’s expected to close within a year, pending approval from regulators and Valspar’s shareholders – NYTimes and WSJ and Bloomberg

The Journal notes a recent trend of m&a bankers backing off of deals involving companies “seeking financing to pay for debt-laden takeovers” after getting burned by earlier deals that have left them “saddled with debt.” If the recent rebound in the junk-debt markets continues, the caution could abate, but the deals of the day are those involving buyers with cash on hand [see above—the Sherwin-Williams/Valspar deal is an all-cash merger] – WSJ

What a glut of Treasurys for the world’s biggest bond dealers means in the broader context of the $13.3 trillion market for US government debt – Bloomberg

Breakingviews has [incorrectly] written the obituary on the Marriott/Starwood deal, thanks to the “interloping investor group led by China’s Anbang Insurance” which upped Marriott’s ante by a cool billion. Turns out Marriott really wanted itNYTimes

Valeant’s recent stock collapse has left it doing some major politicking with its loan investors in an effort to avoid a “potential default on its debt if it can’t file its 2015 annual report, or 10-K, by late April” – WSJ

The international Financial Stability Board released a report last Friday revealing that countries “housing most of the world’s largest, systematically important banks have made progress in setting up regimes to safely take them apart when they fail,” but progress in other countries (including China) has actually slowed – Law360

This week’s Fair Game explored the power of footnotes, especially for investors concerned about conflicts of interests from supposedly independent research analysts – NYTimes

“Sneaky” isn’t necessarily a word you’d associate with Kraft Heinz, but after 50 million boxes of its new-recipe mac & cheese already off the shelves, it may be an apt description. More on its “We’d invite you try it, but you already have” campaign here – NYTimes

As the 2d Circuit prepares to hear oral arguments from aluminium end users accusing Goldman Sachs and others of manipulating warehousing rates, insiders suggest that the court’s ultimate decisions “could offer clues about how high the antitrust standing bar should be for companies that didn’t buy products directly from alleged conspirators” –  Law360

The big banks are running fast away from the coal industry, and it doesn’t look like there’s a (literal) JP Morgan around this time to intervene – NYTimes

We’ve been tracking plenty of stories about staid old institution adjusting to life with millennial workers.  How about an entire company full of them?  An eye-opening look at the news site Mic from the Times – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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