RRD - R. R. Donnelley gains after getting $10/share offer in go-shop period

R.R. Donnelley (NYSE:RRD) rose 9.8% in premarket trading after disclosing that it received an acquisition proposal for $10/share in its go-shop period. The company also said that it's board determined that the acquisition proposal from Chatham Asset Management for $9.10/share is likely to lead to a "superior" proposal than the offer the $8.52/share offer the company already accepted from Atlas Holdings, according to a statement. Under the merger agreement with Atlas, RRD is required to pay a $20M termination fee to Atlas if RRD terminates the Atlas merger agreement in order to enter an agreement with Chatham or the $10/share bidder on Dec. 9. Chatham has agreed to pay the termination fee on RRD's behalf if they win the bidding war. Centerview Partners is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to RRD. Also see SA contributor Cashflow Hunter's piece entitled "R.R.

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R. R. Donnelley gains after getting $10/share offer in go-shop period