It’s Official: Quad Annexes Worldcolor
MONTREAL—The Deal of the Decade is complete. Worldcolor received final approval from the Quebec Superior Court for its "plan of arrangement," allowing it to be acquired by Quad/Graphics.
Each Worldcolor common share is to be converted into the right to receive 0.2154 shares of Quad/Graphics' class A common stock. Common shareholders will also receive $0.56 per share, or $48.4 million in the aggregate. Worldcolor preferred shareholders who elected redemption will receive cash consideration of approximately $8.86 per share.
Joel Quadracci, chairman, president and CEO of Quad/Graphics, joined family and company executives in the ringing of The Opening Bell at the New York Stock Exchange (NYSE) on July 7. Quad's class A common stock is listed on NYSE under the symbol QUAD. It began trading July 6.