R.R. Donnelley To Evaluate Additional Board Candidates In Near Term - Quick Facts

R.R. Donnelley & Sons Company (RRD) said its Board expects to evaluate additional board candidates in the near term in an effort to execute smooth transitions upon upcoming retirements. The Board has informed Chatham Asset Management that they would consider all qualified candidates Chatham wanted to put forward.

On Monday, Chatham sent a letter to RRD's Board threatening to commence a proxy contest if the Board does not proactively respond to Chatham's suggestions, including by appointing a new Chairman and adding new directors, terminating the poison pill, and forming a strategic review and finance committee.

Chatham Asset Management, LLC is the largest stockholder and bondholder of R.R. Donnelley & Sons Company, beneficially owning approximately 14.9% of the outstanding common stock and 40.9% of the outstanding bonds.

The Board of R.R. Donnelley stated that it will continue to review potential divestitures of additional non-core assets on terms favorable to the company as part of its continuing strategic review of the RRD portfolio.

Shares of R.R. Donnelley & Sons were down 3% in pre-market trade on Tuesday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teleflex Inc., a provider of medical technologies for critical care and surgery, is recalling Arrow-Trerotola Over-The-Wire PTD Kit Percutaneous Thrombolytic Device: 7FR, the U.S. Food and Drug Administration said. The Arrow-Trerotola Percutaneous Thrombolytic Device or PTD Catheter, in conjunction with the Arrow Rotator Drive Unit, permits mechanical declotting of native arterio-venous or AV... Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated..
Follow RTT