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

Quick Facts

Editors Pick
President Barack Obama is scheduled to travel to the headquarters of the Centers for Disease Control and Prevention in Atlanta, Georgia, on Tuesday to outline steps the U.S. will take to help combat the Ebola outbreak in West Africa. After recovering from an initial move to the downside, stocks have moved mostly higher over the course of the trading day on Tuesday. The major average have all turned positive, with the Nasdaq and the S&P 500 bouncing off their worst levels in almost a month. Senate Republicans once again voted Monday to block a Democratic bill aimed at narrowing the national gender wage gap. The Senate voted 52 to 40 in favor of limiting debate on the Paycheck Fairness Act, falling well short of the 60 votes required.
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.