February 2, 2022 By PrintAction Staff
R.R. Donnelley & Sons Company today announced the unsolicited non-binding and conditional “Alternative Acquisition Proposal” from a strategic party to acquire all of the outstanding shares of RRD’s common stock for $11.50 per share in cash has been withdrawn. The strategic party did not provide specific reasons for its withdrawal.
The company remains subject to the Chatham Merger Agreement, pursuant to which Chatham will acquire all of the RRD common stock not already owned by affiliates of Chatham for $10.85 per share in cash.
As previously announced, the company has scheduled a special meeting of stockholders for purposes of voting on the Chatham Merger Agreement and the transactions contemplated thereby for February 23, 2022.
The Chatham Merger Agreement has been unanimously approved by the RRD board of directors. The board reaffirms its recommendation that stockholders vote for the Chatham Merger Agreement and the transactions contemplated thereby.
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