Chicago—Printing giant R.R. Donnelley & Sons Co. announced late Tuesday that it had submitted a nonbinding offer for its rival, Quebecor World, which is in bankruptcy proceedings.
The offer is a combined $1.35 billion in stock and cash.
”Quebecor World and RR Donnelley have long represented a strong strategic fit with one another and, through this proposal, we have the opportunity to join them together in a way that greatly benefits stakeholders of both companies, including Quebecor World’s debtors and their creditors,” Thomas J. Quinlan III, R.R. Donnelley president-CEO, said in a statement.
In early trading Wednesday, R.R. Donnelley’s shares were trading at $12.17, down 6.31% from yesterday’s close.
