Business World

Shareholders of Quad/Graphics Inc. and World Color Press Inc. have approved Quad's proposed acquisition of World Color Press and put the deal on track for a July 2 closing.

Shareholders of privately held Quad/Graphics of Sussex approved the transaction Thursday, while shareholders of Montreal printer World Color Press gave the deal the go-ahead Friday morning. The deal still requires the approval of the Quebec Superior Court, Commercial Division, and a deal on a final order is scheduled for June 28.

Quad/Graphics has been cleared to apply to list its class A common stock on the New York Stock Exchange under the stock symbol QUAD. Quad/Graphics anticipates the shares will begin trading July 6 or July 7, at which time the company will usher in a new era as a publicly traded company. It is expected that Joel Quadracci, Quad/Graphics chairman, president and CEO, will ring the opening bell July 7.

World Color shareholders will receive consideration of 40 percent of Quad/Graphics stock and a cash payment of up to $93.3 million. Existing Quad/Graphics shareholders will hold 60 percent of the company.

The merger, valued in media reports at $1.3 billion to $1.4 billion, not including any assumed debt, will create the second largest commercial printing operation in North America, trailing only industry leader R.R. Donnelley & Sons Co.

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