RR Donnelley Offers to Buy Quebecor World

R.R. Donnelley (RRD Quote), one of the nation's largest printers of magazines, catalogs and other materials, is interested in acquiring the assets and properties of bankrupt Quebecor World.

In its proposal, R.R. Donnelley said it would pay about $957 million cash and offer 30 million of its shares, valued at $394.2 million based on Monday's closing price of $13.14, to buy the Canadian commercial printer.

In a statement Wednesday, R.R. Donnelley said the transaction isn't subject to any financing condition and no shareholder approval is required.

It expects the deal to be accretive after the first 12 months of combined operations.

Quebecor World seeks to emerge from bankruptcy this summer.

In a letter addressed to executives of Quebecor World, R.R. Donnelley said it believes the "proposed transaction set out in this letter is superior for the Quebecor debtors and their creditors to the restructuring proposed by the plans in their current form."