Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
LSC Communications terminates $1.4 billion merger with Quad/Graphics

CHICAGO (From news reports) -- LSC Communications Inc and Quad/Graphics have terminated their $1.4 billion merger, a month after the U.S. Justice Department filed a lawsuit to block the deal, the companies said.

Quad/Graphics had said in October it would buy LSC Communications in an all-stock deal bringing together two of the biggest companies that print books, magazines and catalogs.

"We disagree with the DoJ's conclusion regarding our transaction, especially in the context of industry trends," LSC CEO Thomas Quinlan said.

He said the companies decided to terminate the deal as challenging the DoJ would have led them to spend additional time and resources.

The Justice Department's Antitrust Division had said the two companies were each other's biggest rivals, citing internal documents that refer to a price war and a "two-horse race between LSC and Quad."

Quad/Graphics said it will pay LSC a reverse termination fee of $45 million while LSC Communications said it would suspend its quarterly dividend in order to bring down its debt and fund its restructuring programs. LSC said suspending the dividend will allow the company to redeploy about $35 million in cash annually.


Onlypulpandpaperjobs.com has taken off like a rocket! Over fifty jobs are posted, in many interesting categories. These jobs are in at least ten different US states. [06.19.19]


Employers are on board with Onlypulpandpaperjobs.com. There are nearly forty employers located in fifteen different US states and six other countries. [06.19.19]


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: