RR Donelley's Canadian Head Office in Missauga

The unnamed "strategic buyer" that made an unsolicited non-binding bid to acquire RR Donnelley for $11.50  per share in cash has withdrawn its offer. After a bidding war, RR Donnelley (RRD)  said it was set to be acquired by its largest investor, Chatham Asset Management, for $10.85 per share in cash. In late December RRD said it had received an unsolicited  ‘Alternative Acquisition Proposal’, from a strategic party, that was unnamed but referred to as the ‘Strategic Party’, to acquire all of the outstanding shares of RRD’s common stock

RR Donnelley is Canada's fifth largest printer

for $11.00 per share in cash.The ‘Strategic Party’ later increased its offer price to $11.50 per share in cash. It has not provided specific reasons for withdrawing its offer. In a statement released  on 2 February), RRD said it remains subject to the $10.85 per share Chatham merger agreement. RRD has called a special meeting of share holders to vote on the Chatham merger agreement for February 23rd.