Quad/Graphics - Courier Agreement Terminated - Quick Facts

(RTTNews) - Quad/Graphics Inc. (QUAD) announced Thursday that its agreement to acquire Courier Corp. (CRRC) has been terminated. As per terms of a definitive agreement signed with Courier on January 16, 2015, Quad/Graphics would have paid Courier shareholders the equivalent of a total purchase price of $20.50 per share.

On January 27, 2015, Courier received an unsolicited offer from RR Donnelley (RRD) of $23.00 per share in cash or stock, subject to pro ration. Quad/Graphics declined to negotiate further. Accordingly, Courier terminated its agreement with Quad/Graphics on February 5, 2015, and will pay Quad/Graphics a $10 million termination fee.