RR Donnelley to Acquire Banta for $1.3 Billion

R.R. Donnelley & Sons Co. has agreed to buy Banta Corp. for about $1.3 billion in cash. The deal, valued at $36.50 a share after a special dividend of $16 a share already declared by Banta, came on the same day Cenveo Inc. pulled its $50 a share offer. R.R. Donnelley’s bid was unanimously approved by the boards of both companies, and is expected to close in the first quarter of 2007. Donnelley reported sales of $8.43 billion in 2005, and Banta has annual revenue of approximately $1.5 billion.