WASHINGTON (dpa-AFX) - Chatham Asset Management, LLC, the largest stockholder and debtholder of R.R. Donnelley & Sons Company (RRD), said it is prepared to increase offer for RRD to $9.00 to $9.50 per share in cash if it can immediately execute a confidentiality agreement, conduct appropriate due diligence, and commence good faith negotiations.
'We now have learned, through a leaked story to the Wall Street Journal, that RRD is prepared to announce a definitive agreement with Atlas Holdings later this morning, whereby Atlas will acquire RRD's outstanding stock for $8.50 per share,' Chatham stated in a letter to RRD's Board.
On October 12, Chatham submitted a non-binding proposal to acquire all of the common stock of RRD not already owned by Chatham at a price equal to $7.50 per share.
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