MeadWestvaco completes spin-off of Kettering-based unit

RICHMOND, Va. — MeadWestvaco Corp. announced Tuesday it has completed the spin-off and merger of its Consumer & Office Products business, based in Kettering, with ACCO Brands Corp.

MeadWestvaco stockholders will retain their MeadWestvaco shares and will received 0.32986547 shares of ACCO Brands for each share of MeadWestvaco they owned of record as of April 24. No fractional shares of ACCO Brands Corporation were issued, and MeadWestvaco Corporation stockholders received cash in lieu of any fractional shares.