Canadian Magazine Industry News
8 June 2009,     MONTREAL
Quebecor World spurns RR Donnelley?
Quebecor World has rejected the US$1.3 billion takeover bid from RR Donnelley, two well-placed sources familiar with the situation have told printing industry website PrintCan, a sister publication to Masthead. The board of directors for Quebecor World, which is currently operating under creditor protection, apparently rejected the US$1.3 billion offer that RR Donnelley made public on May 12.

Quebecor World creditors will now vote, as scheduled, on the company’s restructuring plan at a meeting in Montreal on June 18. A recently published list of creditors, with more than 1,000 names, contains many companies from the printing industry, including suppliers, but also other commercial printers, and related service providers, illustrating the broad reach of Quebecor World.

If the restructuring plan is accepted, creditors can expect to receive equity in the new corporate entity. Existing equity shares will have little or no value after the new share capital structure is implemented.

PrintCan also reported on the weekend that Quebecor World may be adopting Novink as its new operating name when it exits creditor protection.

A spokesperson for Quebecor World commented only that the company will make statements at the appropriate time regarding the RR Donnelley deal and the new name.
Story Tools
Most Recent News Comment
Joe Glionna says:
Thank you for proving you don’t belong in my organization. Anyone can be an anonymous asshole. Cou...
Most Recent Blog Comment
Jim A. says:
I also purchased an Android tv box just a short while ago, with the intent of cancelling or, at the ...
Scott Bullock Covers Sell
Scott Bullock
Most recent posts:
Industry Guest Blogger Words of Inspiration
Industry Guest Blogger
Most recent posts:
Dennis Kelly 57 Media Spikes
Dennis Kelly
Most recent posts:
Martin Seto Gadget Blog
Martin Seto
Most recent posts:
Norm Lourenco RGD Magazine Media Brandaid
Norm Lourenco RGD
Most recent posts:
Richard Johnson Off the Page
Richard Johnson
Most recent posts:
Special Reports
Upcoming Industry Events
Masthead Web Edition Archives
More Archives