Wallace?A Commercial Success
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Wallace proposed to purchase Graphic Industries for $18.50 per share. The deal seemed locked until Mail-Well hinted at an offer of $20 per share. Wallace countered with $21.75. Before the bidding could escalate further, Graphic Industries made a decision.
"We felt that Wallace was the best fit—not only for our people and our companies, but also our customers," says Alvan Herring, formerly a vice president at Graphic Industries, now vice president of Wallace's commercial printing division. "Wallace is making a commitment to handle print management, the whole print distribution side, and do everything from a graphics standpoint for customers."
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