Norwest. Wattyl accepts bid by Valspar

Paint maker Wattyl, based at Norwest Business Park, has entered a scheme of implementation deed with Valspar after the US group raised its Initial $1.30 a share bid to $1.67, valuing Wattyl at $142 million. The Wattyl board has recommended shareholders vote in favour of the deal, on September 6, according to The Australian Financial Review.