13 May 2009
RR Donnelley proposes US$1.3 billion Quebecor World takeover
—This story has been updated.
MONTREAL—RR Donnelley has offered to buy all the assets and properties of Quebecor World, the company announced late Tuesday. RR Donnelly said it would offer Quebecor World’s creditors US$957 in cash, and 30 million common shares, valued at about US$394 million.
In a statement RR Donnelley said it believes its takeover bid is a better offer to Quebecor World creditors than the company’s own restructuring plan, and that it would greatly extend its reach in the Canadian market. Update from Folio Magazine: Quebecor World says it has received the letter and that its board of directors is reviewing the proposal with major stakeholders.
More details to come as information becomes available.
MONTREAL—RR Donnelley has offered to buy all the assets and properties of Quebecor World, the company announced late Tuesday. RR Donnelly said it would offer Quebecor World’s creditors US$957 in cash, and 30 million common shares, valued at about US$394 million.
In a statement RR Donnelley said it believes its takeover bid is a better offer to Quebecor World creditors than the company’s own restructuring plan, and that it would greatly extend its reach in the Canadian market. Update from Folio Magazine: Quebecor World says it has received the letter and that its board of directors is reviewing the proposal with major stakeholders.
More details to come as information becomes available.
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