R.R. Donnelley acquires printing company

R.R. Donnelley has agreed to acquire Consolidated Graphics, a provider of digital and commercial printing, fulfillment services, print management and proprietary Internet-based technology solutions.

The announcement comes less than a month after R.R. Donnelley closed down its Jefferson City plant and laid off 475 workers.

Under the terms of the transaction, Consolidated Graphics shareholders will receive a combination of $34.44 in cash and a fixed exchange ration of 1.651 R.R. Donnelley shares for each outstanding share of Consolidated Graphics they own or $62 per share based on R.R. Donnelleyâ??s closing share price on October 23rd.

That creates a transaction value of nearly $620 million.

The agreement has been unanimously approved by each company's Board of Directors.