Nip Impressions logo
Fri, Mar 29, 2024 11:05
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
Chatham Asset Management Completes Acquisition of RRD

CHICAGO (News release) -- Chatham Asset Management, LLC, a leading private investment firm, and R.R. Donnelley & Sons Company announced that they have completed a transaction in which affiliates of Chatham have acquired RRD for $10.85 per share in cash. The acquisition was previously announced on December 14, 2021, and RRD stockholders approved the transaction at the Special Meeting of Stockholders held on February 23, 2022.

With the completion of the transaction, RRD expects its common stock will cease trading on the New York Stock Exchange before market open on February 28, 2022. In connection with the completion of the transaction, Thomas J. Quinlan has assumed the role of President and Chief Executive Officer of RRD.

"We are excited about the next chapter in RRD's journey, and I am personally thrilled to be leading the Company once again," said Thomas Quinlan, RRD President and Chief Executive Officer. "Importantly, I am grateful to RRD's employees, whose dedication and hard work have contributed to the Company's success and momentum. Together with Chatham, we expect we will remain the industry leader in marketing and business communications and continue to meet the evolving needs of our clients."

Mr. Quinlan is a seasoned executive with significant experience leading and growing business-to-business manufacturing and services companies. He is deeply familiar with RRD and the print and digital marketing and business communications industries, having served as President and Chief Executive Officer of RRD from 2007 to 2016, and Chairman, President and Chief Executive Officer of LSC Communications from 2016 to 2020 following its spin-off from the Company.

"We are pleased to finalize our acquisition of RRD and officially embark on our partnership with the Company. We look forward to working with Tom and his talented team and are optimistic about what lies ahead for RRD," said Evan Ratner, Partner and Portfolio Manager at Chatham.

Paperitalo newsletters: Cost zero, value immeasurable. Sign up today.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: