R.R. Donnelley & Sons Company announced that it has accepted a proposal from affiliates of Atlas Holdings LLC to increase the price per share of their pending acquisition of RRD to $10.35 per share in cash, and has entered into an amendment to its previously announced definitive merger agreement with affiliates of Atlas, dated as of November 3, 2021. Under the terms of the Amended Agreement, RRD stockholders will receive $10.35 in cash for each share of common stock of the Company that they own, representing a premium of 21.5% over $8.52, the price per share of RRD common stock under the Original Agreement. The revised all-cash transaction is valued at a total enterprise value of approximately $2.2 billion and total equity value of approximately $856 million.
As petrochemical companies and raw material suppliers regain their footing, they are beginning to gain clarity about the impact of hurricanes Harvey and Irma on the printing industry supply chain, though there are still many unknowns.
According to Flint Group, who has been in continual conversation with affected suppliers, Gulf-area and Southeastern US suppliers are in a variety of recovery stages. Some are still assessing the damage and impact to their businesses. Others have begun to restart operations but at reduced capacity, causing a supply and demand imbalance. Many have made public announcements about continued forces majeures and supply allocations. Some transportation companies are imposing fuel surcharges due to very limited availability of carriers.
Suppliers tell Flint Group they will be able to offer more tangible information about the impact of the storms once conditions stabilize further.
Meanwhile, Flint Group leaders note that while the worst of the storms have passed, many affected by the storm’s aftermath still have a lot of work and hardship ahead of them.
“We can’t forget that many people—within and beyond the petrochemical and printing industries— continue to face difficult conditions,” says Diane Parisi, Regional Vice President Procurement Americas.
“As individuals and as an industry, we should continue to do what we can to help those who were hit hard by either of the hurricanes or their after-effects.”