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August 11, 2014
17:40 EDTRRDR.R. Donnelley to take $15M-$20M charge on unit bankruptcy
R.R. Donnelley disclosed in a filing that on Monday, August 11, R.R. Donnelley Argentina S.A., a subsidiary of RR Donnelley & Sons Company, filed for bankruptcy with the Argentine Court due to untenable business conditions. In conjunction with the bankruptcy of its subsidiary, the company expects to record a one-time charge in the range of $15M to $20M; of which approximately half is expected to be cash. These charges will be excluded from the company's non-GAAP earnings. This development does not change the full-year 2014 Guidance included in the company's press release of July 30, which the company reaffirms.
News For RRD From The Last 14 Days
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January 28, 2015
08:31 EDTRRDCourier board says R.R. Donnelley proposal could be 'superior'
Courier Corporation (CRRC) announced that its Board of Directors has reasonably determined in good faith, after consultation with its independent legal and financial advisors, that the non-binding, unsolicited proposal from R.R. Donnelley & Sons Company (RRD) to acquire the Company for $23.00 per share in cash or RR Donnelley common stock is reasonably likely to result in a “Superior Proposal” as defined in Courier’s merger agreement with Quad/Graphics, Inc. (QUAD). As previously announced, the RR Donnelly proposal is subject to proration in the event that Courier shareholders elect to receive more than approximately 49% cash or more than approximately 51% stock, and is subject to, among other things, various closing conditions, Courier shareholder approval and regulatory approvals. Under the Quad/Graphics agreement, the Courier Board’s determination allows Courier to provide information to and conduct discussions and negotiations with RR Donnelley, but does not allow Courier to terminate its agreement with Quad/Graphics or enter into any other agreement with RR Donnelley. Courier’s Board has not determined that RR Donnelley’s proposal in fact constitutes a Superior Proposal under the existing merger agreement with Quad/Graphics and has not changed its recommendation in support of the merger with Quad/Graphics. There can be no assurance that the discussions with RR Donnelley will result in the Courier Board’s determination that the RR Donnelley proposal is a Superior Proposal or the consummation of a transaction that is superior to the pending transaction with Quad/Graphics or that the terms of any new transaction will be the same as those reflected in RR Donnelley’s proposal. Courier will have no further comment on RR Donnelley’s proposal until the Board has completed discussions and/or negotiations with RR Donnelley.
January 27, 2015
08:32 EDTRRDCourier board has not changed recommendation in support of Quad/Graphics merger
08:31 EDTRRDCourier confirms receipt of unsolicited proposal from R.R. Donnelley
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08:30 EDTRRDCourier confirms receipt of unsolicited proposal from R.R. Donnelley
January 22, 2015
06:35 EDTRRDR.R. Donnelley awarded five-year contract by Janney Montgomery Scott
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