Chatham Asset Management Offers To Acquire R.R. Donnelley (RRD) For $7.50 Per Share In Cash

  • November 3, 2021

POTENTIAL DEAL DETAILS

StockR. R. Donnelley & Sons CompanySymbolRRD
Date Announced10/12/2021Source Press Release
TypeUnsolicited BidAcquiring Company/Person Chatham Asset Management, LLC
Date of Confirmation: 12/14/2021Price at Confirmation: $11.01
Potential Profit: 67.58%Annualized Profit: 391.53%

Chatham Asset Management, LLC, a private investment firm that manages funds that beneficially own approximately 14.9% of the outstanding common stock and which is the largest bondholder of R.R. Donnelley & Sons Company (RRD), in a letter sent to RRD’s Board of Directors submitted an offer to acquire all the common stock of RRD not already owned by Chatham for $7.50 per share in cash.

Update(s):

November 02, 2021: Chatham Asset Management, LLC calls on Board to Immediately Execute a Customary Non-Disclosure Agreement and Commit to a Legitimate Sales Process to Deliver Full and Certain Value to Stockholders.

November 03, 2021: Chatham Asset Management, LLC, in a letter sent to RRD’s Board of Directors (RRD) submitted an enhanced offer to acquire all the common stock of RRD not already owned by Chatham for $9.00-9.50 per share in cash.

December 14, 2021: R.R. Donnelley & Sons Company (RRD) announced that it has entered into a definitive merger agreement to be acquired by affiliates of Chatham Asset Management, LLC, a leading private investment firm, in an all-cash transaction with a total enterprise value of approximately $2.3 billion and total equity value of approximately $897 million.

December 29, 2021: R.R. Donnelley & Sons Company (RRD) announced the receipt of an unsolicited non-binding “Alternative Acquisition Proposal” as defined in its previously announced definitive merger agreement with affiliates of Chatham Asset Management, LLC, dated as of December 14, 2021, from a strategic party to acquire all of the outstanding shares of RRD’s common stock for $11.00 per share in cash, subject to other terms and conditions.

January 20, 2022: R.R. Donnelley & Sons Company (RRD) announced the receipt of an update to the unsolicited non-binding, increases the offered price to $11.50 per share in cash.

February 2, 2022: R.R. Donnelley & Sons Company (RRD) announced that the unsolicited non-binding to acquire all of the outstanding shares of RRD’s common stock for $11.50 per share in cash has been withdrawn.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.

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Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.