Banta Rejects Cenveo Offer, Considers Sale of Company

Share this content:

Printer and supply chain specialist Banta Corp.'s board of directors has unanimously rejected Cenveo Inc.'s unsolicited proposal to acquire Banta for $47 per share.

The board of directors determined that the proposal is not in the best interest of Banta shareholders. The decision led to a renewed, higher Cenveo offer of $50 per Banta share.

Banta also said that it will explore all potential strategies for further maximizing shareholder value, including the possible sale of the company.

On Sept. 14, Banta, Menasha, WI, announced a series of strategic initiatives as a follow-up to its reorganization plan of several months ago. These actions, which included laying off about 6 percent of its workforce, were designed to bring the company significant cost savings and make it a more competitive player in the print and supply-chain management industries.

These initiatives, which included a special $16 per share cash dividend for shareholders, came shortly after a couple of bids from Cenveo to acquire Banta. At the beginning of September, Cenveo, Stamford, CT, offered $47 per share, a 38 percent premium on Banta's closing price prior to its first offer in early August.


Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above