Moore Corp. Ltd., Ontario, and Stamford, CT-based Wallace Computer Service Inc. have signed a merger agreement. The combined company, which will be called Moore Wallace, will offer commercial print, direct mail, outsource customer communications, forms, labels, fulfillment and distribution services.
Moore will pay roughly $1.3 billion, consisting of $606 million in cash, $470 million in shares of Moore’s common stock and the assumption of $210 in debt. Wallace shareholders will be receive $14.40 in cash and 1.05 shares in Moore for each share of Wallace owned.
The combined company will have roughly $3.6 billion in annual revenue, and will consist of more than 18,500 employees worldwide. The merger is expected to close immediately.
Mark A. Angelson, currently chief executive of Moore, will be CEO of the new entity.
