Plus   Neg

R.R. Donnelley Says Remain Open To Talks With Chatham On Stockholder Rights Plan

Responding to Chatham Asset Management's letter, R.R. Donnelley & Sons Co. (RRD) said Monday that it has been and remain open to constructive dialogue, but Chatham's letters containing erroneous descriptions of the Rights Plan, false statements about the Rights Plan's implications for Chatham, and ignoring critical strategic steps taken by Management and the Board are not constructive.

R.R. Donnelley said it will continue to make decisions concerning the need for a Rights Plan and other matters in the best interests of stockholders.

Chatham Asset Management, in its 28th February letter to RRD's Board, urged the Board to immediately revoke or revise the provisions of the restrictive stockholder rights plan 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 it is prepared to initiate appropriate litigation against the company if response proves to be untimely or inadequate.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
An advisory panel to the Centers for Disease Control and Prevention has proposed that healthcare workers and long-term facility residents be given the first doses of the COVID-19 vaccine when it is cleared for public use in the U.S. The CDC's Advisory Committee on Immunization Practices met virtually on Tuesday and panel passed the proposal 13-1. Online activity on the two days in the Thanksgiving weekend, Black Friday and Saturday, saw tremendous growth, according to the National Retail Federation's Annual Thanksgiving Weekend Consumer Survey, conducted by Prosper Insights & Analytics. Online-only shoppers increased 44 percent to 95.7 million for the entire weekend. Professional services provider Jacobs Engineering Group Inc. announced the launch of One Million Lives, a free mental health check-in tool, to help users understand their current state of mind and seek mental health and wellbeing solutions. The new tool may help people affected by the struggles of ongoing lockdowns during worsening coronavirus crisis.
Follow RTT