Expected Fallout From Quad, Worldcolor Deal —Michelson

As the acquisition unfolds, the merger of what are two distinctly different corporate cultures will be most intriguing, and perhaps the most challenging. Whereas Quad has built a company organically with greenfield plant startups and by expanding some facilities into mega-plants, Worldcolor is an amalgamation of companies acquired by its forbearers World Color Press and Quebecor Printing. From a historical perspective, Quad has excelled at beating the competition by doing things better and more efficiently, whereas Worldcolor's heritage consists in large part by growth through acquisition.