The thINK Ahead 22 conference of Canon production inkjet printing users returned to its winning formula with insightful educational sessions, numerous networking opportunities, and equipment demonstrations.
Mark Michelson
Although the paper shortage is top-of-mind in the printing industry, it doesn't capture attention on Capitol Hill. In response, PRINTING United Alliance took its role seriously as the largest printing industry association to draw attention to the ongoing scarcity of printing grades and skyrocketing paper prices.
As expected, RR Donnelley & Sons (RRD) common stock shareholders approved the acquisition of RRD by private equity firm Chatham Asset Management on Feb. 23, clearing the way for North America's largest commercial printer to become a privately-held company on Feb, 25, 2022.
The Postal Service reform bill — which reportedly would save the USPS about $50 billion over the next decade — will eliminate a mandate that required the USPS to pre-fund 75 years of retiree healthcare benefits.
With the mystery strategic buyer now backing out of its attempt to acquire RRD, it appears Chatham Asset Management finally prevailed.
Some companies on the Printing Impressions 300 ranking of the largest printing industry companies have actually flourished during these uncertain times, growing by expanding into print markets beyond commercial printing, such as wide-format digital printing.
Another bidder has outbid Chatham Asset Management to acquire North America's largest commercial printing company. RR Donnelley & Sons announced the receipt of an unsolicited non-binding alternative proposal from a yet-undisclosed strategic party to acquire RRD for $11 per share in cash.
The RR Donnelley board of directors unanimously determined the unsolicited proposal from Chatham Asset Management to acquire the printer for $10.25 per share in cash constitutes a “Superior Proposal” to the acquisition agreement it signed with Atlas Holdings. But accepting it will bring a hefty $20 million termination fee. Who will be paying that?
In response to an as-of-yet unnamed "strategic party" that offered to acquire RR Donnelley for $10 per share in cash during the "go-shop" period in which the RRD board of directors could field other offers, Chatham announced it is raising its bid for the third time to acquire North America's largest commercial printer.
Chatham Asset Management submitted a binding, fully financed offer to acquire RR Donnelley (RRD) for $9.10 per share in cash. And, if the termination fee and expense reimbursement payable under the acquisition agreement RRD reached with Atlas Holding is eliminated, Chatham will increase its offer to $9.34 per share.
RRD stockholders will receive $8.52 per share in cash for each share of RRD common stock. But competing bidder Chatham still looms.
The seventh annual thINK inkjet users conference provided educational sessions, ample peer-to-peer networking opportunities, and Canon inkjet press demos at the new Canon Americas Customer innovation Center.
The first PRINTING United Alliance Live and Local event kicked off in Minneapolis with a breakfast and educational sessions followed by a Minnesota Vikings football game in a luxury suite at U.S. Bank Stadium.
Due to pressures to raise more capital, privately held Landa Digital Printing, a nanographic inkjet press manufacturer based in Israel, may become part of a SPAC and, as a result, be traded on the NASDAQ exchange.
Private equity firm Atlas Holdings LLC — which already owns several pulp and paper providers, as well as printer LSC Communications — made an unsolicited takeover bid to acquire coated paper manufacturer Verso Corporation in an all-cash deal.
