The slow but persistent battle over who will buy RR Donnelly continues. The unidentified strategic buyer has increased its bid to $11.50 a share after completing its due diligence — but they still need until February 8 to finalize their financing. In the meantime, Donnelly is moving forward with their latest formal agreement, in which Chatham Asset Management is paying $10.85 a share, aiming for a shareholder vote on February 23. The “strategic buyer” has promised it will pay back to the company the $12 million expense payment due to Chatham if the current agreement is terminated, along with the […]
