RR Donnelley makes offer for Quebecor World (http://www.dmnews.com/RR-Donnelley-makes-offer-for-Quebecor-World/article/136699/)
RR Donnelley & Sons has expressed interest in acquiring all or substantially all of Quebecor World's assets and properties, and is offering to pay Quebecor debtors approximately $957 million cash and 30 million shares, valued at $394 million as of the closing price on May 11.
A letter to Quebecor's top executives, which RR Donnelley released to the press, indicates that the company first expressed interest in acquiring Quebecor World last August, but never received any response. Quebecor World is currently involved in a reorganization as part of bankruptcy proceedings in the US and Canada.
"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," said Thomas J. Quinlan III, president and CEO, at RR Donnelley, in a statement.
"Our offer would significantly enhance our ability to provide customers more comprehensive end-to-end printing solutions, expand our geographic reach into the important Canadian market and better balance our capacity with customer demand – all while achieving significant immediate and long-lasting synergies," he said.
ohhh goody - we do work for donnelleys :grin:
And don't all those post-bankruptcy swallow-up blurbs all read the same. I swear there are about 6 and they throw a die to pick which one they'll cut'n'paste.
Oh, and BTW, They're always "achieving synergies". :laugh: No matter which one they pick.
I know how you feel about Quebecor World Joe. :tombstone:
Quote from: frailer on May 15, 2009, 05:27:16 AMAnd don't all those post-bankruptcy swallow-up blurbs all read the same. I swear there are about 6 and they throw a die to pick which one they'll cut'n'paste.
Oh, and BTW, They're always "achieving synergies". :laugh: No matter which one they pick.
"Synergy" is Jezza's favorite word. :laugh:
Wait, what's that smell? Oh, it's
BULLSHIT! (http://www.bullshitbingo.net/cards/bullshit/)(Bullshit is a link, wanna play me?)
Quote from: frailer on May 15, 2009, 05:27:16 AMAnd don't all those post-bankruptcy swallow-up blurbs all read the same. I swear there are about 6 and they throw a die to pick which one they'll cut'n'paste.
Oh, and BTW, They're always "achieving synergies". :laugh: No matter which one they pick.
I know how you feel about Quebecor World Joe. :tombstone:
They've been dead to me for a few years now but I am now kicking my own ass for not buying their stock when it dropped to 1 cent a share a few months ago.