RRD - RRD STOCK NEWS

R.R. Donnelley & Sons Company (NYSE: RRD) is soliciting waivers and consents from holders of its Debt Securities, including various Notes and Debentures, to amend indentures related to a proposed Merger. The company aims to declare that the Merger does not constitute a Change of Control and modify restrictive covenants. Consent Consideration of $1.25 per $1,000 principal amount will be offered for specific series of Debt Securities, with future payment if Requisite Consents are obtained before set Expiration Dates. Parent company intends to consent to the Proposed Amendments.

R.R. Donnelley & Sons Company (NYSE: RRD) announced the Updated Strategic Party Proposal, offering $11.50 per share, up from $11.00. The Strategic Party claims to have completed due diligence but needs three weeks for committed financing. The Board of Directors has not yet deemed it a Superior Proposal. Under the Chatham Merger Agreement, RRD must pay $12 million in reimbursement if it terminates the agreement to pursue the updated offer, which remains non-binding. RRD continues to recommend the Chatham agreement and plans to file a definitive proxy statement by January 21, 2022.

R.R. Donnelley & Sons Company (NYSE: RRD) announced the receipt of an unsolicited non-binding acquisition proposal from a strategic party to acquire its shares for $11.00 per share, surpassing the existing merger agreement with Chatham Asset Management LLC at $10.85 per share. The Board of Directors has determined that this proposal may lead to a 'Superior Proposal' but has not confirmed it yet. The Chatham agreement includes a $12 million expense reimbursement if terminated for this potential offer. RRD remains committed to the Chatham agreement and plans to file a proxy statement regarding the transaction.

R.R. Donnelley & Sons Company (RRD) announced the launch of a new omnichannel offering aimed at enhancing communication for nonprofit organizations. This initiative addresses the evolving needs of nonprofits to engage donors effectively amid ongoing challenges in charitable giving. The solution includes creative development, digital marketing support, and resources for targeted campaigns. RRD's experience is positioned to strengthen relationships between nonprofits and their supporters, ultimately enhancing the lifetime value of these connections.

R.R. Donnelley & Sons Company (RRD) has terminated its merger agreement with Atlas Holdings and entered a definitive merger agreement with Chatham Asset Management for an all-cash acquisition valued at approximately $2.3 billion. Under the new agreement, RRD shareholders will receive $10.85 per share, representing a 4.8% premium over the previous offer from Atlas. The transaction, which has received unanimous board approval, is expected to close in the first half of 2022, pending stockholder and regulatory approvals.

R.R. Donnelley & Sons Company (NYSE: RRD) announced that its Board unanimously deemed an unsolicited acquisition proposal from Chatham Asset Management, LLC at $10.85 per share a "Superior Proposal" compared to its existing agreement with Atlas Holdings at $10.35 per share. The Board intends to terminate the current agreement with Atlas after a negotiation period concluding on December 16, 2021, unless Atlas presents a revised bid. Should the termination occur, RRD is obligated to pay Atlas a $20 million fee and $12 million in expenses.

Chatham Asset Management, LLC has presented a binding offer of $10.85 per share to acquire R.R. Donnelley & Sons Company (RRD), surpassing the $10.35 per share proposal from Atlas Holdings LLC. Chatham, owning approximately 14.9% of RRD’s shares, criticizes RRD's Board for failing to engage in negotiations, suggesting this behavior undermines shareholder value. The offer, fully financed, is set to expire on December 13, 2021, unless a merger agreement is countersigned. Chatham emphasizes the potential to reduce RRD’s annual interest expense significantly, enhancing financial stability.

R.R. Donnelley & Sons Company (NYSE: RRD) has accepted a revised acquisition offer from Atlas Holdings LLC, now valuing RRD shares at $10.35 each, a 21.5% premium over the original offer of $8.52. The total enterprise value of the transaction is approximately $2.2 billion, with an equity value around $856 million. RRD's Board approved this amendment after determining that a competing offer from Chatham Asset Management (at $10.25) no longer constituted a superior proposal. RRD plans to file this amendment with the SEC.