RRD to be acquired by Atlas for $8.52 per share in cash, valued at ~$2.1B

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• R.R. Donnelley & Sons Company (NYSE:RRD) shares surge 40% premarket on entering into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC in an all-cash transaction with a total enterprise value of approximately $2.1B.
• Atlas will acquire all of the outstanding shares of RRD common stock for $8.52 per share in cash.
• The purchase price represents a premium of approximately 29.1% of closing price on November 2, 2021.
• The transaction is expected to close in the first half of 2022.
• RRD’s shares will cease to trade on NYSE after closing.
• The company earlier today received an enhanced non-binding offer by Chatham Asset Management, LLC of $9.00 - $9.50/share vs. prior offer of $7.50/share.
• Earlier today, the company reported upbeat Q3 results and withdrew FY2021 guidance in the light of going private.

Comments

[cjsmit77]

Love to see a bidding war break out on this one. Not sure what the meaningful potential is for that but it appears we already have a small one starting to brew. Notice says BOD will review all bids in the next 25 days. Do I hear $10?

[earlyriser]

Who is atlas? Can't find symbol

[civas666]

@earlyriser it is a private equity firm they are not listed

[earlyriser]

@civas666 thanks

[AlieGee]

@earlyriser @civas666

Atlas

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 23 platform companies which employ approximately 40,000 associates across more than 250 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, food manufacturing and distribution, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas’ companies together generate approximately $10 billion in revenues annually.