Donnelley to buy Bowne & Co.

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Chicago—R.R. Donnelley & Sons Co. agreed Tuesday to acquire Bowne & Co., which offers digital printing service for the health care, financial and other industries, for $481 million in cash.

Bowne generated about $675 million in revenue in 2009. The deal is expected to close in the second half of this year.

In the wake of the deal’s announcement, Standard & Poor’s Ratings Services placed its long-term ratings for R.R. Donnelley on CreditWatch “with negative implications.”

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