CHICAGO—Fresh off its conquest of Banta Corp., RR Donnelley posted a 61 percent increase in its third quarter profits, the result of higher sales and lower tax rates. Net income rose to $164.7 million, a healthy increase over the $102.1 million Donnelley registered a year ago.In other company news, Donnelley signed a multiyear contract extension…
CHICAGO—Mark Angelson was unable to go Trick-or-Treating on Halloween Tuesday night, but the CEO of RR Donnelley didn’t go home with an empty bag after pulling off the biggest M&A shocker in years. Donnelley swooped in and acquired Banta Corp. of Menasha, WI, out from under Cenveo Chairman and CEO Robert Burton, who had set an October 31 date as a deadline for Banta to accept his company’s offer of $50 per share. When the 5 p.m. deadline passed, Burton withdrew his proposal. 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.
Bobst Providing Bindery Direction ROSELAND, NJ—Intrigued by barbecues under the stars, a car show and rally—and yes, let’s not forget binding and finishing gear—roughly 450 people from 171 different plants made their way here for the Direction ’06 Open House sponsored by Bobst Group USA. The show, held September 21-26 at Bobst’s Demonstration and Training Center, showcased the company’s folding carton and commercial printing solutions for customers and prospects alike. A total of nine Bobst technologies were on display. On the commercial printing end, diecutters such as the SPanthera 106-LER, SPeria 106-E and the SPrintera 145-PER drew attention from visitors, along with the SPeria Foilmaster 102. Jerry
MENASHA, WI—When the clock ticked down to the October 31 deadline imposed by Cenveo Chairman and CEO Bob Burton for Banta Corp. to accept Burton’s “best and final” $50 per share offer to purchase Banta, a second suitor stepped out of the shadows and snatched up the publication printing and supply chain specialist—RR Donnelley (RRD). Donnelley will shell out $1.3 billion, or $36.50 per share after the $16 special dividend previously declared by Banta. It represents $2.50 more per share than the $34 post-dividend offer made by Cenveo. The deal, announced October 31, is subject to approval by the respective board of directors for each
CHICAGO—RR Donnelley continues to take its global sourcing platform to another level with the recent joint financial printing agreement it signed with Al Ghurair Printing and Publishing in the United Arab Emirates (UAE). The venture will be called Al Ghurair Donnelley LLC. The agreement reportedly gives both companies exclusive access to printing and financial communications resources that extend from the UAE to Asia Pacific, Europe and North America. Al Ghurair Printing and Publishing, a member company of the Al Ghurair Group, is a leading financial and commercial printer in the UAE. It also owns a comprehensive printing and finishing platform in Dubai. The deal will allow Donnelley
NEW YORK—Financial printers periodically pad their bills, which can be vague and difficult to decipher, according to a feature in the September 11 edition of The Wall Street Journal. The business publication cited examples in which Merrill Corp., Bowne & Co. and RR Donnelley sometimes overshoot their estimates by hundreds of thousands of dollars and periodically resist third-party auditing efforts prior to reducing their charges. The story noted that the difference between printer estimates and the final bill result from unanticipated overages or services not anticipated in the estimates. Generally, the WSJ reported, the disputed amounts are only tens of thousands of dollars, but it
Corporate Express Document & Print Management in Wichita, KS, was the recipient of a 2006 Supplier of Excellence Award from Hospira Inc., a manufacturer of pharmaceutical products. Dan Miller, finishing manager at Ripon Printers, has retired and was replaced by Randy Hartl, who joined the Ripon, WI-based company in May. Great Lake Integrated (GLI) has announced two staff appointments. Steve Caskey is the new warehouse manager at the GLDirect facility in Avon Lake, OH, and Timothy Hogan is an account executive based at GLI’s Cleveland headquarters. Cadmus Communications has hired Andy Johnson as executive vice president of print services for Cadmus’ Publisher Services Group. In this role,
IN THE May 2003 edition of this magazine I predicted some mega deals would begin to occur. I also predicted that the number of printing companies would continue to shrink and that we would have less than 30,000 by 2006.
A reader, who will remain nameless, e-mailed me a few days ago and asked if there was going to be a follow-up column reporting on how well I did with my prophesies.
Hey! I am not a modern day Nostradamus. I’m just a mere mortal human being with, maybe, a tad more talent than the rest of you.
I am gonna stop for a minute and
CHICAGO—RR Donnelley has signed a definitive merger agreement to acquire Canadian Bank Note’s financial printing assets and operations, including service facilities in Toronto and Montreal. Terms of the all-cash deal were not disclosed.Donnelley expects to benefit from Canadian Bank Note’s regulatory expertise and experience, and gain a geographic presence in Canada’s business and financial markets.…
NEW YORK—Financial printers periodically pad their bills, which can be vague and difficult to decipher, according to a feature in the September 11 edition of The Wall Street Journal (WSJ). The business publication cited examples in which Merrill Corp., Bowne & Co. and RR Donnelley sometimes overshoot their estimates by hundreds of thousands of dollars and resist third-party auditing efforts prior to reducing their charges. The story noted that the difference between printer estimates and the final bill result from unanticipated overages or services not anticipated in the estimates. Generally, the WSJ reported, the disputed amounts are only tens of thousands of dollars, but it
