Bankrupt Vertis Gets Go-Ahead For $259M Sale To Quad

Law360, Wilmington (December 6, 2012, 7:57 PM EST) -- Vertis Holdings Inc.'s third trip through Chapter 11 neared a successful close Thursday as a Delaware bankruptcy judge approved the sale of the Baltimore-based advertiser to rival Quad/Graphics Inc. for $258.5 million.

A provider of advertising inserts and direct marketing, as well as a veteran of previous bankruptcies in 2008 and 2010, Vertis and its seven subsidiaries filed for Chapter 11 in October after struggling with a host of difficulties including the continued move away from print, recent customer losses and significant secured indebtedness, the company...
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