RRD Extends Existing Stockholder Rights ('Poison Pill') Plan
R. R. Donnelley & Sons Company (RRD) announced that its Board of Directors has approved an amendment of the Company’s stockholder rights plan to extend the final expiration date under the Rights Plan to August 28, 2021. The Rights Plan had been scheduled to expire on August 28, 2020.
The Board approved the one-year extension of the Rights Plan based on its determination that circumstances continue to warrant RRD maintaining the protections afforded by the Rights Plan. The Board noted that, given the Company’s depressed stock price and the impact of the COVID-19 pandemic on the Company’s business and on financial markets, there is heightened potential for one or more persons or groups to gain undue influence over or control of RRD through open market accumulation or other tactics. The Rights Plan does not prevent any action the Board determines to be in the best interest of the Company and its stockholders.
Under the terms of the Rights Plan as amended today, the rights under the Rights Plan will expire on August 28, 2021, unless the rights are earlier redeemed, exchanged or terminated.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.