Business Management - Finance/Financial

Harte Hanks will close a plant in Maryland, reportedly resulting in the layoff of 112 employees, notes the Baltimore Business Journal.

Well, it’s official. As reported on the business wire earlier today, RR Donnelley (RRD) has split into three separate, publicly held companies. First revealed in August 2015, the breakup of the $11.7 billion conglomerate follows the latest corporate trend of “maximizing shareholder value” by creating more focused companies; in theory, the parts are more valuable than the whole. Similar moves, partly driven by activist investors, are in process at Xerox and already occurred at HP.

RRD announces expiration, final results of the cash tender offers to purchase a portion of its outstanding debt securities.

LSC Communications has announced the pricing of its 8.750% Senior Secured Notes due 2023, which is referred to as the senior secured notes, in the aggregate principal amount of $450 million. LSC Communications also priced its $375 million senior secured term loan B facility under its new credit agreement, under which LSC Communications will borrow at 6.00% over LIBOR, subject to a LIBOR floor of 1.00%. The financing transactions are expected to close on September 30, 2016 in connection with the contribution to LSC Communications of the publishing and retail-centric print services and office products businesses of RRD.

RRD announced the early tender results for the cash tender offers to purchase a portion of its outstanding debt securities.

RR Donnelley & Sons Company (RRD) announced today that its board of directors has approved the distribution to its shareholders of approximately 80.75% of the outstanding shares of each of LSC Communications, and Donnelley Financial Solutions, which will result in three distinct, publicly traded companies. Each RRD shareholder of record as of the close of business on Sept. 23, 2016, the record date for the distribution, will receive on the distribution date one share of LSC Communications common stock and one share of Donnelley Financial common stock for every eight shares of RRD common stock held as of the record date. The RRD board also approved the implementation of a 1:3 reverse stock split for RRD.

Carolyn Schena, Owner of Proforma Image & Design in Michigan, shares her secret of securing an order worth more than $500,000.

RRD has filed a document with the SEC, announcing further information regarding the previously announced spinoff transactions.

Transcontinental Inc. has released its financial results for the third quarter of Fiscal 2016, which ended July 31, 2016.

Thousands of miles away from his native Iran, Zarik Megerdichian made the American Dream his own by founding and then growing 4over.