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Chatham Asset Urges R.R. Donnelley & Sons To Immediately Rescind 'Poison Pill'

Chatham Asset Management urged Board of Directors of R.R. Donnelley & Sons Co. (RRD) to immediately rescind the restrictive Rights Agreement or the "Poison Pill" adopted by the company as of August 28, 2019.

Chatham Asset Management, which owns about 12.9% of the company's outstanding common stock, said that the Poison Pill threatens the fundamental rights of stockholders to engage the Board and management on matters critical to the company's financial condition and prospects. The Poison Pill serves no legitimate corporate purpose and is contrary to the interests of both the Company and its stockholders.

Chatham said it is willing to meet with the Board to discuss Chatham's concerns about the Poison Pill, but it reserves the right to seek whatever remedies are available if its concerns are not resolved.

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