Cenveo resends merger proposal

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20 September 2006 — Stamford (CT): Cenveo has sent another formal merger proposal to Banta.

Cenveo has accused Banta’s board of directors of breaching its fiduciary duties to shareholders by failing to respond to Cenveo’s offer and described Banta’s initiative to cut costs by $35 million as "comical".

 

The letter reiterates that Cenveo has obtained committed financing from Lehman Brothers and Wachovia to complete the proposed $47.00 per share acquisition.