Quad/Graphics Inc., agreed to buy Worldcolor Press Inc. of Canada, which produces magazines like Time and Cosmopolitan.
The merged company will be traded on public, and will have 30,000 employees and combined sales of $5.1 billion, based on the figures for the year to last Sept. 30.
Quad/Graphics’s chief executive officer, Joel Quadracci, will be the new company as chairman, president and CEO, according to the company.
Shareholders of Worldcolor, which is based in Montreal, will own about 40 percent of the combined company, the statement said. The Quadracci family will control the company through ownership of its Class B shares. Quad/Graphics will distribute $140 million in cash to its shareholders, the company said.
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