RRD - R.R. Donnelley accepts revised $10.35/share proposal from Atlas

R.R. Donnelley & Sons (RRD +2.9%) has accepted a revised proposal from Atlas Holdings affiliates to raise the price per share of their pending acquisition of RRD to $10.35/share in cash. R.R. Donnelley agreed to an amendment to its previously announced definitive merger agreement with Atlas affiliates. Pursuant to the amendment, RRD stockholders will receive $10.35 in cash for each common share of the company they own. This represents a premium of 21.5% over $8.52, the price per share of RRD common stock under the original agreement. The revised all-cash transaction is valued at a total enterprise value ~$2.2B and total equity value of ~$856M. Earlier this month, R.R. Donnelley had stated that Chatham Asset $10.25/share bid is "superior" to Atlas deal. Atlas had until December 7, 2021 to propose an amendment, such that Chatham's offer would no longer constitute a Superior Proposal. RRD was not permitted to terminate the original

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R.R. Donnelley accepts revised $10.35/share proposal from Atlas