Quad/Graphics set to float on NYSE following completion of World Color merger

US-based Quad/Graphics' acquisition of World Color Press, formerly Quebecor World, has been approved by shareholders of both companies, clearing the way for Quad/Graphics' flotation.

The deal, which was announced in January, will make Quad/Graphics the second largest print company in the world – behind RR Donnelley – and is expected to complete on 2 July.

As a result of the merger, privately owned Quad/Graphics will be floated on the New York Stock Exchange (NYSE), where its Class A common stock will be listed under the stock symbol QUAD.

The company said that it anticipated trading in its shares to commence on 6/7 July, ushering in a "new era as a publicly traded company".

Under the terms of the agreement, World Color Press shareholders will see their shares converted at a set ratio for 40% of the common shares in the combined company. Quad/Graphics' owners will own the remaining 60% of the enlarged business.

The deal remains subject to the approval of the Quebec Superior Court, which is expected to make an announcement regarding the final approval today (28 June).