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16 November 2021
Bidding War Now On For RR Donnelly
CHICAGO—
Chatham Asset has up their bid to buy R.R. Donnelley to $9.10 a share in cash, an offer it said improves upon bid from Atlas Holdings. Chatham also sueing R.R. Donnelley and Atlas in a Delaware court, asking the court to block some features of R.R. Donnelley's agreement with Atlas, which Chatham said was designed to exclude Chatham's participation in a bid process. R.R. Donnelley had agreed to sell itself to Atlas earlier for $8.52 a share. That deal followed a previous bid from Chatham,
which already owns a portion of R.R. Donnelley's shares and is its largest bondholder. Chatham, the largest investor in RR Donnelley with a 14.9% stake . Chatham, had earlier tried to engage with the company by asking it to replace directors and threatening a proxy war. RR Donnelly is Canada's fifth largest printer according to Graphic Monthly's listing of Canada's top printers with sales around $250 million in Canada . RR Donnelly took over Moore Business Forms and all Canadian plants .
RR Donnelly's Canadian head office in Missauga
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Canada' fifth largest printer and North America's largest printer .
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