A Canadian court approved the merger of print and logistics houses R.R. Donnelley and MooreWallace, clearing the way for the two to complete the combination tomorrow, the companies said.
Following the determination by the Ontario Superior Court of Justice that the merger was “fair and reasonable” to shareholders of MooreWallace, which is based in Mississauga, Ontario, the two companies await the issuance of a certificate finalizing the merger Feb. 27. The merger will create an $8 billion-a-year, 50,000-employee print and logistics giant.
On Feb. 23, MooreWallace and R.R. Donnelley shareholders voted to approve the merger. The merger plan is continuing despite revelations earlier this month of accounting problems at MooreWallace and the resignation of MooreWallace's chief financial officer.