R.R. Donnelley To Evaluate Additional Board Candidates In Near Term - Quick Facts

(RTTNews) - R.R. Donnelley & Sons Company (RRD) said its Board expects to evaluate additional board candidates in the near term in an effort to execute smooth transitions upon upcoming retirements. The Board has informed Chatham Asset Management that they would consider all qualified candidates Chatham wanted to put forward.

On Monday, Chatham sent a letter to RRD's Board threatening to commence a proxy contest if the Board does not proactively respond to Chatham's suggestions, including by appointing a new Chairman and adding new directors, terminating the poison pill, and forming a strategic review and finance committee.

Chatham Asset Management, LLC is the largest stockholder and bondholder of R.R. Donnelley & Sons Company, beneficially owning approximately 14.9% of the outstanding common stock and 40.9% of the outstanding bonds.

The Board of R.R. Donnelley stated that it will continue to review potential divestitures of additional non-core assets on terms favorable to the company as part of its continuing strategic review of the RRD portfolio.

Shares of R.R. Donnelley & Sons were down 3% in pre-market trade on Tuesday.