Vertis scuttles acquisition of American Color Graphics
Press release from the issuing company
BALTIMORE (October 1, 2007) – Vertis Communications today announced that it has terminated the letter of intent of July 21, 2007 and as amended on August 14, 2007 with ACG Holdings, Inc. relating to the proposed merger between Vertis Communications and ACG Holdings, Inc.
The agreement of September 13, 2007 between Vertis Inc., American Color Graphics, Inc., and ACG Holdings, Inc. and certain Consenting Noteholders expired by its terms on September 29, 2007. Vertis conveyed an offer with a deadline of midnight on September 30, 2007 and received no affirmative response. Vertis therefore terminated the letter of intent, but is prepared to entertain further discussions.
The agreement of September 13, 2007 between Vertis Inc., American Color Graphics, Inc., and ACG Holdings, Inc. and certain Consenting Noteholders expired by its terms on September 29, 2007. Vertis conveyed an offer with a deadline of midnight on September 30, 2007 and received no affirmative response. Vertis therefore terminated the letter of intent, but is prepared to entertain further discussions.
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