SUSSEX, WI (WTAQ) - Wisconsin’s largest printing company has taken another step toward acquiring a Baltimore printer that’s under federal bankruptcy protection.
Quad/Graphics said Monday that the Federal Trade Commission will not conduct an anti-trust review of its proposed acquisition of Vertis Holdings.
The FTC had until midnight Friday to announce a review – and the deadline came and went with no action. Now, Quad awaits approval from a federal bankruptcy court to acquire Vertis. Quad must also develop a plan for integrating Vertis into its operations.
The two companies announced just over a month ago that Quad would acquire Vertis for $258 million. But under the bankruptcy, Vertis will evaluate any competing bids – and those must be submitted by Friday.
Quad and Vertis both say they expect the bankruptcy court to approve the sale on December 6th – and it’s expected to close in the first quarter of next year.