Courier Corp.

Courier Corp. Terminates Quad/Graphics Agreement, Will Be Acquired by RR Donnelley Instead
February 5, 2015

RR Donnelley & Sons (RRD) and Courier Corp. jointly announced today that they have signed a definitive agreement by which RR Donnelley will acquire Courier Corp., a leader in digital printing, publishing and content management in the United States specializing in educational, religious and trade books. The agreement has been approved by each company’s Board of Directors.

Final Chapter for Courier Gets Written—Mark Michelson
February 1, 2015

It appeared that Courier’s roughly 1,500 employees would all be issued Quad/Graphics’ signature dark-blue work shirts to wear—a team-building concept initiated by the late Harry V. Quadracci many years ago. But that’s not how the closing chapter would ultimately be written for North America’s second largest book manufacturer.

Courier Corp. Rejects Quad, Agrees to RR Donnelley Deal
February 1, 2015

If there was any doubt that Courier Corp. is one of the most respected book printers in America, that was put to rest by the January pursuit of the firm by its two chief competitors—RR Donnelley and Quad/Graphics. In the end, Courier Corp. decided that Donnelley's bid was too good to pass up and opted to terminate its agreement with Quad/Graphics. As part of the initial agreement, Quad/Graphics was given the opportunity to match RR Donnelley's offer, but declined to make any new proposal.

Courier Board Determines RR Donnelley's Offer Is 'Superior Proposal' to Quad/Graphics' Bid
January 28, 2015

Courier Corp. announced today that its board of directors has reasonably determined in good faith, after consultation with its independent legal and financial advisors, that the non-binding, unsolicited proposal from RR Donnelley & Sons Company (RRD) to acquire the company for $23.00 per share in cash or RR Donnelley common stock is reasonably likely to result in a "Superior Proposal" as defined in Courier’s merger agreement with Quad/Graphics Inc.

Putting Deal with Quad/Graphics in Flux, Courier Receives Unsolicited Bid from RR Donnelley
January 27, 2015

Courier Corp. announced today that it has received a non-binding, unsolicited proposal from RR Donnelley & Sons Company (RRD) to acquire the company for $23.00 per share in cash or RR Donnelley common stock, subject to proration in the event that shareholders elect to receive more than approximately 49 percent cash or more than approximately 51 percent stock.

Quad/Graphics to Acquire Courier Corp. for $260M as Part of Strategy to Transform Book Platform
January 16, 2015

Quad/Graphics Inc. and Courier Corp. jointly announced a definitive agreement by which Quad/Graphics will acquire Courier, a leading innovator in book manufacturing, publishing and content management. Upon closing of the transaction, James F. Conway III will join Quad/Graphics as president of the Book Division. "We look forward to welcoming Courier’s clients and employees to Quad and redefining the book supply chain for the benefit of publishers everywhere," said Joel Quadracci, Quad/Graphics chairman, president and CEO.