Quebecor rejects R.R. Donnelley’s takeover bid

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Chicago—R.R. Donnelley & Sons Co. announced that its $1.8 billion bid to acquire Quebecor World, which is in bankruptcy proceedings, has been rejected.

“We believe that our proposal was undoubtedly in the best interests of creditors based on a comparison of the distributions under our proposal with the distributions under the proposed stand-alone plan of reorganization,” Thomas J. Quinlan III, R.R. Donnelley’s president-CEO, said in a statement. R.R. Donnelley had increased its initial bid of $1.35 billion, made May 12, to $1.8 billion.

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