Industry News
Quebecor rejects R.R. Donnelley's takeover bid
June 15, 2009 - R.R. Donnelley & Sons Co. announced that its $1.8 billion bid to acquire Quebecor World (which is currently 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 is believed to have increased its initial bid of $1.35 billion, made May 12, to $1.8 billion.
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