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Byline: Kelly Holman
Printing services company Workflow Management Inc. said Tuesday, March 30, that private investment firms Perseus LLC and Renaissance Group LLC had increased their previously announced offer to acquire the struggling company by 50 cents a share, to $5.37 apiece, for a total of $72 million.
Palm Beach, Fla.-based Workflow said the amended merger agreement, which has the support of the company's management, needs to be approved by Workflow's senior lenders, who have also been engaged in discussions with Workflow management over a possible Chapter 11 bankruptcy protection filing if shareholders do not approve the buyout offer.
The …