R.R. Donnelley & Sons Co. said it has received a new acquisition bid from Chatham Asset Management LLC to acquire R.R. Donnelley’s outstanding shares for $10.25 each.
The bid comes amid acquisition negotiations between R.R. Donnelley
RRD,
and Chatham that have followed a merger agreement between R.R. Donnelley and Atlas Holdings LLC signed Nov. 3.
In the wake of that deal, Chatham previously offered to buy R.R. Donnelley’s outstanding shares for $9.10 a share on Nov. 16. Since then, R.R. Donnelley, a business-communications company, has been negotiating with Chatham about its proposal.
Over the weekend, R.R. Donnelley received another acquisition bid at $10.00 a share from the third party, the company said.
The merger agreement with Atlas remains in effect for now, R.R. Donnelley said.
Write to Matt Grossman at matt.grossman@wsj.com
This post was originally published on Market Watch
