Donnelley Nabs Banta in Blockbuster Deal

But when the smoke cleared later that day, Donnelley and Banta had reached a tentative deal at $52.50 a share, or $1.3 billion. The all-cash deal comes out to $36.50 per share after the special dividend of $16 per share already declared by Banta.

The deal, which is pending customary closing conditions, regulatory approval and the OK of Banta’s shareholders, is scheduled to close in the first quarter of 2007. It was unanimously approved by the board of directors for both companies.