WASHINGTON (dpa-AFX) - MeadWestvaco Corp. (MWV) announced the final exchange ratio for the spin-off and subsequent merger of its Consumer & Office Products Business with ACCO Brands Corp.(ABD).
In addition to retaining the shares of MeadWestvaco common stock they currently own, MeadWestvaco stockholders will receive 0.32986547 shares of ACCO Brands Corporation common stock for each share of MeadWestvaco common stock they owned of record as of April 24, 2012.
The spin-off and merger are expected to become effective May 1, 2012.
Following the merger, ACCO Brands common stock will trade under the ticker 'ACCO' on the NYSE.
In November, 2011, ACCO Brands and MeadWestvaco had said it 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. Following the completion of the transaction, MeadWestvaco shareholders will own 50.5 percent of the combined company.
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