Quad/Graphics Purchase Of Vertis Holdings Clears Hurdle
Deal to buy Vertis moves forward after the FTC does not take action.
The Federal Trade Commission did not take action on the Quad/Graphics purchase of Vertis Holdings by the Friday, Nov. 16 deadline, allowing the two companies to continue with the proposed sale agreement, according to the Sussex printer on Monday.
Friday marked the end of the waiting period for antitrust review of the proposed deal, which is now "pending the receipt of court approval and the completions of necessary integration plans."
Quad/Graphics announced in October it will acquire Vertis Holdings for $258.5 million in a deal that will position the Sussex-based printer as a leader in the production of retail advertising inserts and direct marketing, the company said.
Vertis, which has been in bankruptcy, expects to generate approximately $1.1 billion in revenue and earnings of $60 million during fiscal year 2012, according to Quad/Graphics.