Relentless Burton Targets Cenveo

A letter written on April 8 by Cenveo Chairman Susan O. Rheney on behalf of the directors denied that Burton's overtures had been disregarded and indicated that the best route to maximizing shareholder value was to stick with the company's game plan.

"While we disagree with virtually all of the assertions made in your letter, we agree that the stock of Cenveo has been significantly undervalued by the market at large," Rheney wrote. "The board of Cenveo has not been 'dismissive' of any proposal made to it. ...Based on our analysis, presently we believe that maximization of long-term shareholder value will be best achieved by the successful execution of the company's strategic plan."