ACCO Brands Corporation Announces Early Termination Of Hart-Scott-Rodino Act Waiting Period For Proposed Merger Of MeadWestvaco's Consumer & Office Products Business With ACCO Brands
LINCOLNSHIRE, Ill., Feb. 13, 2012 /PRNewswire/ -- ACCO Brands Corporation (NYSE: ABD), a world leader in branded office products, announced today that the Antitrust Division of the United States Department of Justice has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act ("HSR Act") in connection with the proposed merger of MeadWestvaco Corporation's Consumer & Office Products business into ACCO Brands. ACCO Brands also announced that the waiting period required by the Canada Competition Act has expired. Accordingly, the conditions to the proposed merger relating to the expiration or termination of the HSR Act and the Canada Competition Act waiting periods have been satisfied.
As previously announced, on November 17, 2011, ACCO Brands and MeadWestvaco 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. Upon completion of the transaction, MeadWestvaco shareholders will own 50.5% of the combined company. The proposed merger is expected to be completed in the second quarter of 2012.
The merger remains subject to certain other closing conditions, including the approval of ACCO Brands' shareholders.
About ACCO Brands CorporationACCO Brands Corporation is a world leader in branded office products. Its industry-leading brands include Day-Timer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel, NOBO, Derwent, Marbig and Wilson Jones®, among others. Under the GBC brand, the company is also a leader in the professional print finishing market. Forward-Looking Statements This press release contains certain statements which may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties, are made as of the date hereof and the company assumes no obligation to update them.
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