Banta Reviewing Cenveo Offer
Stamford, Connecticut-based printing company Cenveo first made an unsolicited offer to acquire Menasha, Wisconisn-based Banta Corp. for approximately $1.1 billion in August. It renewed its bid to purchase Banta this week in a letter to Banta’s shareholders. Thursday, Banta, for the first time, acknowledged receipt of Cenveo’s renewed offer.
If Cenveo did acquire Banta, it would likely mean consolidation of operations on the East Coast. In 2005, Cenveo reported $1.74 billion in revenue, while Banta did about $1.5 billion. Through the first six months of 2006, Banta reported revenue of $745 million.