Canadian Magazine Industry News
13 May 2009,     MONTREAL
R.R. Donnelly proposes US$1.3 billion Quebecor World takeover
[This story has been updated.]

Chicago-based printer R.R. Donnelley has offered to buy all the assets and properties of Quebecor World, the company announced late Tuesday. R.R. Donnelly said it would offer Quebecor World’s creditors US$957 in cash, and 30 million common shares, valued at about US$394 million. Update via Folio: Quebecor World says it has received the letter and that its board of directors is reviewing the proposal with major stakeholders.

In a statement, R.R. Donnelly said it believes its takeover bid is a better offer to Quebecor World creditors than the company’s own restructuring plan, and that it would greatly extend its reach in the Canadian market.

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— Michelle DiPardo
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