2006: Year That Was Stranger Than Fiction —Michelson

Front and center, of course, was the unsolicited, and cantankerous, takeover attempt of Banta by hard-charging Cenveo Chairman and CEO Bob Burton. After several volleys back and forth between Burton and Banta Chairman, President and CEO Stephanie Streeter, Banta ultimately rejected a $50 per share offer by Cenveo and set its own cost-cutting wheels in motion by announcing the closure of five facilities and layoffs of more than 500 people. The $35 million initiative also included some “shark repellent” in the form of a special $16 per share cash dividend payable to Banta stockholders.