Donnelley Takes Run at Quebecor
For $1.3 Billion
Published: 05/14/2009 12:52am
Chicago-based R.R. Donnelley has sent a letter to magazine, comic, and book printer Quebecor World offering to buy the company’s assets for $1.3 billion in cash and stock. The offer includes $700 million in cash, around $400 million in Donnelley stock, and Quebecor cash on hand of around $250 million.
Quebecor has been in bankruptcy since early this year (see “Quebecor Files for Bankruptcy Protection”), and has sold its European assets (see “Quebecor Sells European Holdings”), filed its reorganization plan and is preparing to emerge from bankruptcy.
Donnelley argues that its offer is a better deal for Quebecor’s creditors. There is no financing contingency, but an agreement would have to be reached, a definitive agreement crafted, and due diligence completed for the deal to close.
Donnelley is the world’s largest printing company, and would use its acquisition of Quebecor World to expand its operations in
|Confessions of a Comic Book Guy--Back at the Bully Pulpit|
|No Such Thing as Bad Publicity?|
|Rolling for Initiative--Can't Get More 3D Than This: 'KODT: Live Action Series'|
|DVD Round-Up: 'The Walking Dead,' 'Cybersix,' & More 'Blandings'|
|Confessions of a Comic Book Guy--The Things I Don't Know|
|No San Diego Convention Center Expansion
Was Key to Keeping Comic-ConThe $500M expansion was key to keeping Comic-Con in San Diego.