Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

ACCO Brands Shareholders Approve Merger With MeadWestvaco's Consumer Unit

RELATED NEWS
Trade MWV now with 

ACCO Brands Corp. (ABD: Quote) announced that its shareholders overwhelmingly approved a proposal to complete the merger of MeadWestvaco Corp.'s (MWV: Quote) Consumer & Office Products business with a wholly owned subsidiary of ACCO Brands.

ACCO Brands stated that the new shares to be issued will begin trading on a when-issued basis tomorrow, April 24, 2012, under the NYSE ticker symbol "ACCO wi." The completion of the merger remains subject to the satisfaction or waiver of several conditions but it is expected that the merger will be completed before the opening of NYSE trading on May 1, 2012.

Effective with the opening of trading on May 1, 2012, and assuming completion of the merger prior to that time, all outstanding ACCO Brands common stock will trade under the new ticker symbol "ACCO", the company said.

In November, 2011, ACCO Brands and MeadWestvaco had said it signed a definitive agreement to merge MeadWestvaco's Consumer & Office Products business into ACCO Brands in a transaction which was valued at approximately $860 million at the time of the announcement. Following the completion of the transaction, MeadWestvaco shareholders will own 50.5 percent of the combined company.

Register
To receive FREE breaking news email alerts for Meadwestvaco Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month. Sen. Lindsey Graham, R-S.C., is seen as a long shot for the Republican presidential nomination in 2016, and his chances may have gotten worse after he was recorded joking about the prospects for "white men" if he were elected president.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.