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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.

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