Form 8-K shows Courier Paid Quad/Graphics $10M Termination Fee

On February 5, 2015, the agreement pursuant to which Quad/Graphics, Inc. ("Quad/Graphics") was going to acquire Courier Corporation ("Courier") was terminated. Under the terms of the agreement signed with Courier on January 16, 2015, Quad/Graphics would have paid Courier shareholders the equivalent of a total purchase price of $20.50 per share. On January 27, 2015, Courier received an unsolicited offer from R.R. Donnelley & Sons Company of $23.00 per share in cash or stock, subject to pro ration. Quad/Graphics declined to negotiate further. Accordingly, Courier terminated its agreement with Quad/Graphics and paid Quad/Graphics a $10 million termination fee on February 5, 2015.