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
Home goods retailer Bed Bath & Beyond Inc. said Tuesday after the markets closed that its second quarter profit fell 10% from last year, as higher costs and expenses more than offset a 4.3% increase in sales. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly sales. At the same time, With lawmakers failing to address corporate tax reform before adjourning for the campaign season, the Treasury Department announced Monday that it is taking targeted action to reduce the tax benefits of corporate tax inversions. Technology giant Apple, Inc. announced Monday it has set a new record for first weekend sales of iPhone 6 and 6 Plus, having breached the 10 million mark within just three days of its sales launch on September 19. Sales came from the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK over the weekend.
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.