RTTNews | Jan 20, 2022 01:14PM EST

13:14 Thursday, January 20, 2022 (RTTNews.com) - R.R. Donnelley & Sons Co. (RRD) on Thursday said that "a strategic party", that previously offered to acquire the company, has raised its offer again.

In December, R.R. Donnelley had said that it received an unsolicited non-binding "Alternative Acquisition Proposal" from a strategic party to acquire all of the outstanding shares of RRD's common stock for $11.00 per share in cash.

On Thursday, the company said that the party has increases the offered price to $11.50 per share in cash.

The Strategic Party has also substantially completed its financial, legal, tax and other due diligence on RRD and its business.

The company said that at this time it has not determined that the new proposal constitutes a superior offer than Chatham Asset Management LLC's offer of $10.85 per share. The board continues to recommend the Chatham deal.

Read the original article on RTTNews ( https://www.rttnews.com/3256311/strategic-party-raises-unsolicited-offer-for-r-r-donnelley-sons-to-11-shr.aspx)

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