R.R. Donnelley agrees to acquire Moore Wallace

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Chicago--Printing giant R.R. Donnelley & Sons announced Sunday that it has agreed to acquire Moore Wallace for $2.8 billion in stock.

The combined company will retain the Donnelley name and be headquartered in Chicago, although Mark A. Angelson, CEO of Mississauga, Ontario-based Moore Wallace, will become CEO of the combined company, replacing William L. Davis, Donnelley's president-CEO. Davis earlier this year announced his intention to retire.

The combined company expects to generate cost savings of at least $100 million annually in the first 12 to 24 months after the closing. --

Sean Callahan

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