Shareholders OK Quad, Worldcolor Deal
SUSSEX, WI—Quad/Graphics Inc. and Worldcolor Press announced that their respective shareholders have approved the previously-announced acquisition of Worldcolor by Quad/Graphics. Quad/Graphics shareholder approval was obtained on Thursday while earlier Friday, at the special meeting of Worldcolor shareholders held in Toronto, approximately 91.78 percent of the votes cast were voted in favor of the special resolution authorizing the arrangement.
The arrangement remains subject to the approval of the Quebec Superior Court (Commercial Division) and other customary closing conditions. A hearing in respect of the final order approving the arrangement is scheduled to take place on June 28. If the final order is granted and all other conditions to the completion of the transaction are satisfied or waived, it is expected that the deal will be completed by next Friday, July 2.
Quad/Graphics has been cleared to apply to list its class A common stock on the New York Stock Exchange (NYSE) under the stock symbol QUAD. Quad/Graphics anticipates the shares will begin trading on the NYSE on July 6 or July 7, at which time the company will usher in a new era as a publicly traded company. It is expected that Quad/Graphics Chairman, President and CEO Joel Quadracci will ring The Opening Bell on July 7.