Quebecor Rejects Donnelley Offer
-- Publishers Weekly, 6/10/2009 10:34:00 AM
Quebecor has rejected the latest unsolicited offer from Donnelley and is moving forward with plans to have its reorganization plan voted on by creditors June 18. In a filing with the bankruptcy court, Quebecor said that after reviewing the revised proposal, the printer’s independent board had concluded that the reorganization plan offers “a superior recovery” than the Donnelley offer, while also posing fewer risks to completion. Quebecor expects to re-emerge from bankruptcy by mid July.
