Living Among Giants
Not to be outdone by the competition, in late October, Chicago-based RR Donnelley & Sons Company signed a definitive agreement to acquire Consolidated Graphics. A release noted that under the terms of the transaction, Consolidated Graphics shareholders would receive a combination of $34.44 in cash and a fixed exchange ratio of 1.651 RR Donnelley shares for each outstanding share of Consolidated Graphics they owned, or $62 per share based on RR Donnelley's closing share price on Oct. 23. The end result was a transaction valued at approximately $620 million, plus the assumption of Consolidated Graphics' net debt.
Elise Hacking Carr is senior production editor for Print & Promo Marketing magazine, and managing editor for PRINTING United Journal.