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R.R. Donnelley & Sons Company (NYSE:RRD) (“RRD” or the “Company”), a leading global provider of marketing and business communications, today announced that it has signed a definitive agreement to sell its DLS Worldwide Logistics business to TFI International (TFI) (NYSE and TSX: TFII) for $225 million in cash, subject to a customary working capital adjustment. The agreement stipulates 10 percent of the purchase price will be held in escrow while the remainder will be paid at closing. The transaction does not include RRD’s International Mail and Parcel Logistics business and is expected to close within the next 60 days pending regulatory approvals and other customary closing conditions.
Dan Knotts, RRD’s President and Chief Executive Officer stated, “The sale of our DLS Worldwide business further demonstrates our strategic focus and ongoing commitment to optimize our business portfolio, reduce