(RTTNews) - Quad/Graphics, Inc. (QUAD) and LSC Communications, Inc. have mutually agreed to terminate the merger deal. Quad will pay LSC a reverse termination fee of $45 million.
The all-stock deal under which Quad would have acquired LSC was announced in October, 2018. The deal was anticipated to be delayed as the U.S. Department of Justice and the U.S. District Court for the Northern District of Illinois recently decided to probe the acquisition.
Quad/Graphics said it continues to aggressively execute on its strategic priorities to enhance adjusted EBITDA and generate free cash flow to fuel its Quad 3.0 growth strategy.
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