RRD - Chatham Asset submits binding $9.10/share offer for R.R. Donnelley

Chatham Asset Management said it submitted a binding offer to acquire R.R. Donnelley (NYSE:RRD) for $9.10/share in cash. Chatham Asset, which has a 14.9% stake in RRD, received a debt commitment letter by Jefferies Finance for as much as $1.675B, according to a statement.  The binding offer comes after RRD agreed to to be acquired by Atlas for $8.52 per share in cash in a deal valued at ~$2.1B earlier this month. At the time, RRD said it received an enhanced non-binding offer by Chatham for $9.00 - $9.50/share vs. prior offer of $7.50/share.  "Our offer is superior, by any measure, to Atlas' offer, and delivers to stockholders value that is rightfully theirs," Chatham said in the statement today. Additional today, Chatham filed a lawsuit in the Delaware Court of Chancery Chatham requesting that the court declare the Atlas termination fee and certain other provisions of the Atlas nerger agreement unenforceable. Also see SA

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Chatham Asset submits binding $9.10/share offer for R.R. Donnelley