RRD - R.R. Donnelley accepts Chatham's $10.85/share offer

R. R. Donnelley & Sons Company's (NYSE:RRD) board accepts Chatham Asset Management's $10.85/share all-cash offer. The purchase price represents a 4.8% premium over the rejected Atlas Holdings LLC offer of $10.35/share. The offer values RRD at a total enterprise value of approximately $2.3B and total equity value of approximately $897M. The transaction is expected to close in the first half of 2022 following the approval of RRD stockholders and receipt of regulatory approvals. Shares are down 2.45% AH to a price of $10.74. RRD stock has risen 21% over the past month as the two private equity firms bid up the stock price.

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R.R. Donnelley accepts Chatham's $10.85/share offer