M&A · Industrials · Commercial Printing
Atlas Holdings LLC to acquire RR Donnelley & Sons Co
Announced Nov 3, 2021 · Terminated Dec 14, 2021
Deal value$2.10BEV $2.10B
Premium29.1%To unaffected price
EV / Adj. EBITDA5.4x0.4x EV / Revenue
ConsiderationAll cash$8.52 per share
Transaction
- Acquirer
- Atlas Holdings LLC
- Target
- RR Donnelley & Sons Co (RRD)
- Buyer type
- Strategic
- Offer price per share
- $8.52
- Enterprise value
- $2.10B
- Status
- Terminated Dec 14, 2021
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- Committed · Wells Fargo, Jefferies
Advisors
- To the acquirer
- Macquarie
- To the target
- Centerview
Sector context · Industrials
- Comparable deals
- 43 in the prior 24 months
- Premium
- 29.1% vs. 37.4% sector median
- EV / Adj. EBITDA
- 5.4x vs. 12.1x sector median
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedNov 3, 2021
- Proxy filedDec 3, 2021
- Definitive proxy—
- Shareholder vote—
- TerminatedDec 14, 2021