R.R. Donnelley: Moving To The Sidelines

Nov. 25, 2021 12:05 PM ETR. R. Donnelley & Sons Company (RRD)2 Comments
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CashFlow Hunter
4.69K Followers

Summary

  • Chatham submits binding offer of $9.10/share.
  • Chatham will increase offer to $9.34 if termination fee for Atlas is eliminated.
  • Jefferies has committed to $1.68 billion to finance Chatham's offer.
  • Additionally, Chatham offering to equitize or subordinate $784 million of RRD debt it owns.
  • Lastly, Chatham filing lawsuit in Delaware court against RRD board and Atlas.

Law and justice concept. Judge hammer with the dollar placed - concept of judgment and justice. About fraud tax fines

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The Update:

Last Tuesday (November 16th) Chatham Asset Management escalated its efforts to acquire R.R. Donnelley (NYSE:RRD). They announced a series of initiatives. Including:

  • Submitting a binding offer to acquire all R.R. Donnelley common shares it

This article was written by

CashFlow Hunter profile picture
4.69K Followers
Cash flow focused investor comfortable across the capital structure. Prefer to find undervalued steady cash flow generators on the long side and declining cash flow situations with unsustainable balance sheets on the short side.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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