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US giant Quad/Graphics set to float on NYSE following completion of World Color merger

US giant Quad/Graphics set to float on NYSE following completion of World Color merger
by Simon Nias
Jun 29, 2010
Find more like: Quad/Graphics | set | to | float | on | NYSE | following | completion | of | World | Color | merger

US-based Quad/Graphics' acquisition of World Color Press, formerly Quebecor World, has been approved by shareholders of both companies, clearing the way for Quad/Graphics' flotation.

The deal, which was announced in January, will make Quad/Graphics the second largest print company in the world – behind RR Donnelley – and is expected to complete on 2 July.

As a result of the merger, privately owned Quad/Graphics will be floated on the New York Stock Exchange (NYSE), where its Class A common stock will be listed under the stock symbol QUAD.

The company said that it anticipated trading in its shares to commence on 6/7 July, ushering in a "new era as a publicly traded company".

Under the terms of the agreement, World Color Press shareholders will see their shares converted at a set ratio for 40% of the common shares in the combined company. Quad/Graphics' owners will own the remaining 60% of the enlarged business.

The deal remains subject to the approval of the Quebec Superior Court, which is expected to make an announcement regarding the final approval today (28 June).



Read the original article at www.printweek.com.


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