Olshan Represents Chatham Asset Management in Acquisition of R.R. Donnelley & Sons Co.
Bloomberg (subscription required) reported on Olshan’s representation of client Chatham Asset Management, LLC, a leading credit investment firm, and certain of its affiliates, in connection with its successful acquisition of all outstanding shares of common stock of R.R. Donnelley & Sons Company (NYSE:RRD) not already owned by Chatham for $10.85 per share. The acquisition is the culmination of a lengthy bidding process, since Chatham first submitted an unsolicited bid to acquire RRD in October 2021. The transaction, which closed on February 25, 2022, had a total enterprise value of approximately $2.3 billion and total equity value of approximately $897 million. The Olshan team who led the activist, M&A and litigation strategies for Chatham included Steve Wolosky, Elizabeth R. Gonzalez-Sussman, Michael Neidell, Lori Marks-Esterman, Peter Sartorius, Rebecca Van Derlaske and Mark Kiley.