Mead, Westvaco Join Forces

Stock Exchange
Under terms of the transaction, Mead shareholders will receive one share of MeadWestvaco stock for each share of Mead stock, and Westvaco shareholders will receive 0.97 shares of MeadWestvaco stock for each share of Westvaco stock. The merger is structured as a stock-for-stock, tax-free exchange, and will be accounted for as a purchase transaction under the recent guidelines for business combinations. The deal has been approved by both boards.