Vertis' 3rd Trip Through Ch. 11 To End In $259M Sale

Law360, Wilmington (October 10, 2012, 7:52 PM EDT) -- Vertis Holdings Inc. sought bankruptcy protection for a third and final time Wednesday as the Baltimore-based advertising company entered Chapter 11 in anticipation of a sale to rival Quad/Graphics Inc., whose $258.5 million offer will serve as a stalking horse bid.

A provider of targeted advertising and marketing solutions, as well as a veteran of previous bankruptcies in 2008 and 2010, Vertis and its seven subsidiaries filed Chapter 11 petitions in Delaware listing assets and debts of between $500 million and $1 billion.

The prepackaged deal...
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