Burton Delivers CVO-Banta Merger Agreement

The offer came with a hostile caveat, however. “. . .if you (Streeter) continue to entrench yourself and repeatedly ignore our proposal, we will have no choice but to explore alternative ways to successfully complete this transaction.”

In a September 20 letter to Streeter, Burton wrote that it was amusing to see Streeter’s announced strategic initiatives to increase shareholder value, in light of Cenveo’s offer. This “entrenchment,” Burton wrote, is a breach by Streeter and the Banta board of their fiduciary obligation to shareholders.