Final Chapter for Courier Gets Written—Mark Michelson
Initially, Quad/Graphics and Courier announced a definitive agreement on Jan. 16 whereby Quad would purchase Courier for $260 million. But then Quad’s arch-nemesis, RR Donnelley (RRD), swept in Jan. 27 with an unsolicited bid to acquire Courier for about $261 million, plus the assumption of Courier’s net debt and payout of outstanding equity awards. Courier’s board and financial advisors determined the RRD offer to be superior and, on Feb. 5, announced that the $275 million-in-sales firm had accepted RRD’s bid over Quad’s.
- Companies:
- Courier Corp.
- Quad/Graphics
- RR Donnelley
Mark Michelson now serves as Editor Emeritus of Printing Impressions. Named Editor-in-Chief in 1985, he is an award-winning journalist and member of several industry honor societies. Reader feedback is always encouraged. Email mmichelson@napco.com
