"It is a pleasure to meet you, Mr. Wang."
As an ethnic Singaporean Chinese, this answer has a wrong sentence structure. It should be ＂很高兴认识你(informal)/您(formal/respect to seniors), 王先生！＂
The one you suggest is more accurate to me too, but I wouldn't say it's wrong; it may be usual elsewhere e.g. in the PRC.
From my knowledge as an ABC, and having lived in Shanghai for 6 years, “高兴认识你，王先生！” makes more sense here.
Unfortunately, that is more of an Americanization than standard Mandarin.
很高兴认识你 is the structure I've learned here in Beijing. It got accepted, so I don't see a problem?