Standard Brands Paint, a do-it-yourself home decorator...

Standard Brands Paint, a do-it-yourself home decorator chain that has been a takeover target, said its directors will consider a recapitalization plan later this week. The Torrance-based company said that under the plan, it would borrow up to $185 million to repurchase 50% of its 11.3 million outstanding shares. The plan, designed to discourage a takeover, would apparently raise the company’s debt to about $210 million from about $30 million. Standard Brands Paint rejected a $300-million takeover offer from Chase Corp. of New Zealand in July.