ACCO Brands Announces Ticker Symbol Change And Satisfaction Of Key Condition To Pending Merger
LINCOLNSHIRE, Ill., April 13, 2012 /PRNewswire/ -- ACCO Brands Corporation (NYSE: ABD), a world leader in branded office products, today announced that in conjunction with the anticipated closing of the pending merger of a wholly owned subsidiary of ACCO Brands with MeadWestvaco's Consumer & Office Products business, its NYSE ticker symbol will change to "ACCO". The new symbol is expected to become effective as of the opening of NYSE trading on Tuesday, May 1, 2012.
The new ACCO ticker symbol now matches the widely recognized ACCO Brands name. "The investing public and our customers know us as ACCO Brands," said Chairman and Chief Executive Officer Robert J. Keller. "Our new trading symbol will be another positive step in our transformation."
As previously announced, on November 17, 2011, ACCO Brands and MeadWestvaco Corporation (NYSE: MWV) signed a definitive agreement to merge MeadWestvaco's Consumer & Office Products business into ACCO Brands. Today MWV announced that it has received a ruling from the Internal Revenue Service confirming the tax-free nature of the distribution of 50.5 percent of the outstanding shares of common stock of ACCO Brands to MWV shareholders, which distribution will be made upon the merger becoming effective.
Completion of the merger remains subject to the satisfaction or waiver of certain conditions, including the approval of the merger by ACCO Brands' shareholders at a special meeting of shareholders scheduled for April 23, 2012. If the merger is approved, the new shares to be issued will begin trading on a when-issued basis April 24, 2012, under the NYSE ticker symbol "ACCO wi". Assuming the merger is completed before May 1, 2012, it is anticipated that, effective upon the opening of regular trading on May 1, 2012, all shares of ACCO Brands common stock will trade under the new ticker symbol "ACCO".About ACCO Brands Corporation ACCO 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.
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