Benzinga | Oct 12, 2021 11:35AM EDT

RRD Confirms Receipt Of Unsolicited Proposal From Chatham Asset Management; Proposal Was For $7.50/Share In Cash

R.R. Donnelley & Sons Company (NYSE:RRD) ("RRD" or the "Company") today announced that it has received an unsolicited proposal from Chatham Asset Management, LLC ("Chatham") to acquire all of the outstanding shares of RRD for $7.50 per share in cash.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the RRD Board of Directors will carefully review and consider the Chatham proposal to determine the course of action that it believes is in the best interests of the Company and RRD shareholders. RRD shareholders do not need to take any action at this time.

Centerview Partners LLC is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to RRD.