R. R. Donnelley gains after getting $10/share offer in go-shop period

Nov. 29, 2021 8:27 AM ETR. R. Donnelley & Sons Company (RRD)By: Joshua Fineman, SA News Editor

RR Donnelley Supply Chain Solutions location, RRD provides final stage product assembly and direct-to-consumer web fulfillment.

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  • R.R. Donnelley (NYSE:RRD) rose 9.8% in premarket trading after disclosing that it received an acquisition proposal for $10/share in its go-shop period.
  • The company also said that it's board determined that the acquisition proposal from Chatham Asset Management for $9.10/share is likely to lead to a "superior" proposal than the offer the $8.52/share offer the company already accepted from Atlas Holdings, according to a statement.
  • Under the merger agreement with Atlas, RRD is required to pay a $20M termination fee to Atlas if RRD terminates the Atlas merger agreement in order to enter an agreement with Chatham or the $10/share bidder on Dec. 9. Chatham has agreed to pay the termination fee on RRD's behalf if they win the bidding war.
  • Centerview Partners is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to RRD.
  • Also see SA contributor Cashflow Hunter's piece entitled "R.R. Donnelley: Moving To The Sidelines."

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