Banta Says No; Burton Ups Offer

MENASHA, WI—Do we hear $51? That is the question Banta Corp. may be asking the consolidation community in the wake of its rejection of a $47 per share bid made by Cenveo and its chairman and CEO, Robert Burton. Cenveo, in return, has raised its bid and set a deadline for a deal.

In the same breath, Banta not only rejected Burton’s bid but also decided to revisit the company’s own strategic initiatives for maximizing shareholder value. The ideas being kicked around include, but are not limited to, selling the company, remaining independent, a merger or acquisition, and a further return of capital.