Quad/Graphics Completes Acquisition of Worldcolor
“Quad/Graphics has had five months to plan this integration and is better prepared than any team with which I’ve been associated over the years,” stated Mark Angelson, former Chairman and CEO of Worldcolor, who continues on with Quad/Graphics as a member of the Board of Directors. “Harry Quadracci would be beaming with pride, as I am, at having passed the torch of leadership to such a remarkable group. They bring to this acquisition a seamless will to win, the best technology and the clearest strategic vision that I have seen. With Joel Quadracci at the helm, surrounded by the best of the best from these two great companies, Quad/Graphics should go from strength to strength, and all of our constituent groups will benefit.”
As part of this transaction, Quad/Graphics will enter a new era as a publicly traded company. Quad/Graphics’ class A common stock will be listed on the New York Stock Exchange (NYSE) under the symbol QUAD, starting on July 6, 2010. To mark the occasion, Chairman, President & CEO Joel Quadracci will lead Quadracci family members and Quad/Graphics leaders in ringing The Opening Bell on July 7, 2010, at 9:30 a.m. ET.
Pursuant to the arrangement agreement, each Worldcolor common share will be converted into the right to receive 0.2154 shares of class A common stock of Quad/Graphics. In addition to share consideration, holders of Worldcolor common shares, including the 13,687,826 Worldcolor common shares to be issued upon conversion of the Worldcolor preferred shares, will receive cash consideration of U.S. $48,405,658.83 in the aggregate (approximately U.S.$ 0.56 per share) upon completion of the arrangement.
Worldcolor preferred shareholders who elected redemption will receive cash consideration of approximately U.S.$ 8.86 per share upon completion of the arrangement.
Quad/Graphics (www.QG.com) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts and circulars, direct mail products, books and directories. Headquartered in Sussex, Wis., (just west of Milwaukee), the company has approximately 28,000 employees working from more than 80 locations throughout the United States, Canada, Latin America and Europe. As a printing industry innovator, Quad/Graphics is redefining the power of print in today’s multimedia world by helping its clients use print as the foundation of multichannel communications strategies to drive their top-line revenues.