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APC MERGER COMPLETES OFFER FOR ALDEN PRESS SHARES

 NEW YORK, Feb. 26 /PRNewswire/ -- APC Merger Corporation announced today the successful completion of its tender offer for all outstanding shares of the common stock of The Alden Press Company at $15 per share, net to the seller in cash, without interest. The offer expired today and all 2,755,150 shares validly tendered and not withdrawn prior to the expiration of the offer (including 11,485 shares subject to guaranteed delivery procedures) have been accepted for payment and purchased by notice thereof to the Depositary.
 Immediately following the purchase of shares pursuant to the offer, APC Merger purchased 4,602,499 shares at a price of $15 per share, net to the seller in cash, and without interest, pursuant to stock purchase agreements previously executed with certain stockholders of Alden Press.
 As a result of these purchases, APC Merger currently owns 99.8 percent of the outstanding shares of Alden Press (including the 11,485 shares subject to guaranteed delivery procedures) and, as previously announced in its offer, intends promptly to complete the acquisition through a short form merger of APC Merger into Alden Press in which remaining shares (other than shares with respect to which appraisal rights are perfected under the laws of the State of Delaware) will be converted into the right to receive $15 per share in cash, without interest.
 APC Merger Corporation and its parent, APC Holding, Inc. were formed at the direction of Kohlberg Kravis Roberts & Co. to effect the acquisition, and are affiliates of World Color Press, Inc.
 -0- 2/26/93
 /CONTACT: Gary Minnig of The Alden Press Company, 708-640-6000, or Ruth Pachman or Josh Pekarsky of Kekst and Company, 212-593-2655, for World Color Press/
 (ALDN)


CO: APC Merger Corporation; Alden Press Company ST: New York, Illinois IN: SU: TNM

KD -- NY043 -- 0913 02/26/93 14:16 EST
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Publication:PR Newswire
Date:Feb 26, 1993
Words:307
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