Chatham sweetens offer for RR Donnelley amid takeover battle
Tuesday, November 30, 2021 2:15 pm
CHICAGO (From news reports) -- Chatham Asset Management on Monday raised its offer for RR Donnelley & Sons Co to $10.25 per share, hours after the printing company reaffirmed that it was sticking to a merger with investment firm Atlas Holdings.
RR Donnelley agreed to be taken private by Atlas for $8.52 per share in cash earlier this month, valuing the company at about $2.1 billion.
The go-shop period allows the target company in an M&A agreement to seek out competing bids even after it receives an offer from the acquirer.
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