Acco and MeadWestvaco complete merger
The merger between Acco and MeadWestvaco is complete.
MeadWestvaco's Consumer & Office Products business and Acco Brands Corporation may no longer need merger and acquisition advisors, as their tie-up is complete.
Acco chief executive Robert Keller explained the deal will result in a "powerhouse" of complementary products and brands.
These will be marketed to e-commerce businesses, wholesale and independent office product retailers, superstores and mass market shops, he continued.
Furthermore, it will diversify the firm's global footprint, with new employees from MeadWestvaco bringing expertise and talent to the organisation that will help it to meet its forecasted future expansion, the representative added.
It is predicted that the merger will result in annualised cost synergies of an estimated $20 million (£12.33 million), significantly improving the group's generation of cash flow.
Shareholders for MeadWestvaco were provided with 0.33 shares in Acco's common stock for each holding of MeadWestvaco owned, through the final exchange ratio agreed upon during business discussions.
Posted by Ron Maverick
Source: Acco press release, May 1st