Donnelley Makes a Bid for Quebecor
Commercial printer R.R. Donnelley & Sons has offered to buy competitor Quebecor World's assets and properties for approximately $1.35 billion, Reuters reported this week. The Montreal-based Quebecor is hoping to emerge from bankruptcy protection—which it filed for in January 2008—this summer.
According to the report, Donnelley will pay Quebecor's debtors about $957 million in cash, and 30 million of its shares, valued at approximately $394.2 million. The transaction is not subject to any financing conditions or shareholder approval.