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|ACCO Brands Corporation Announces Proposed Secondary Offering Of 3,536,000 Shares Of Common Stock|
LINCOLNSHIRE, ILLINOIS, September 15, 2006 – ACCO Brands Corporation (NYSE: ABD), a world leader in select categories of branded office products, today announced that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission for a proposed secondary offering of 3,536,000 shares of its common stock. An additional 530,400 shares may be sold if the underwriters exercise in full their option to purchase additional shares.
The shares are being offered by a wholly owned subsidiary of Lane Industries, Inc. ("Lane") and certain of Lane's officers, and were originally acquired by Lane in connection with the merger of a subsidiary of ACCO Brands with General Binding Corporation ("GBC") on August 17, 2005. At the time of the merger, Lane owned a majority of GBC's outstanding capital stock. The registration statement is being filed at Lane's request pursuant to a registration rights agreement, which ACCO Brands entered into with Lane at the time of the merger with GBC.
If the underwriters exercise in full their option to purchase additional shares, the number of shares beneficially owned by Lane and its Subsidiaries immediately after completion of the offering would be 4,038,137, which would represent approximately 7.5% of the company's outstanding common stock as of August 31, 2006. In 2005 Lane had entered into a variable forward purchase contract that is expected to be settled on or about November 27, 2006 through delivery by Lane of a variable number of shares of the Company's common stock or, at Lane's option, in cash. If Lane were to deliver 1,467,125 shares of the Company's common stock, the maximum number permitted by that contract, the remaining shares owned by Lane and its Subsidiaries would be 2,571,012, or approximately 4.8% of the Company's outstanding shares.
Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc., are joint bookrunners and BMO Capital Markets is co-manager for the proposed offering.
This press release is not an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers of the common stock will be made only by means of a prospectus, copies of which may be obtain by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010 (Tel: 212-325-2580) or Deutsche Bank Securities Inc., 60 Wall Street, 4th Floor, New York, NY 10005 (Tel: 212-250-2500). The prospectus also will be filed with the Securities and Exchange Commission and will be available at the Commission's website at http://www.sec.gov.
About ACCO Brands Corporation
ACCO Brands Corporation is a world leader in select categories of branded office products, with annual revenues of nearly $2 billion. Its industry-leading brands include Day-Timer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel®, and Wilson Jones®, among others. Under the GBC brand, the company is also a leader in the professional print finishing market.
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