Transcontinental bids on PLM, direct marketing

In a move intended to build its presence in direct marketing, printer Transcontinental Inc. has made a cash offer to acquire all of PLM Group Ltd.'s approximately 29.5 million shares at C$3.50 per share.

PLM, Toronto, is Canada's fourth-largest printer. Its services include pre-media, digital printing and the ability to print a wide range of marketing-related commercial printing products.

"With PLM, we will become a leader in Canada's direct marketing industry - a fast-growing segment where Transcontinental is already a major player in the United States; PLM will also complement our product and service offering in the Greater Toronto Area," said Luc Desjardins, president/CEO, Transcontinental, in a statement.

The offer from Montreal-based Transcontinental represents a premium of 19 percent over the closing price of PLM shares on the Toronto Stock Exchange on Aug. 13, the day before PLM announced it was in exclusive talks with a potential buyer.

The deal is expected to close in October.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions