I'm in a different time zone, hence delayed response to the momentous news that RR Donnelley has launched an unsolicited bid for high-profile bankrupt Quebecor World.

Gosh and double-gosh. Amid all the talk of consolidation I'd anticipated something happening somewhat closer to home rather more immediately than this. RRD certainly doesn't lack ambition, and a downturn is a great time to snap up distressed assets if you happen to have the cash lying around to effect such a deal. And Quebecor has certainly been in a state of distress for some time. I'm intrigued, though, that there is no mention of any potential anti-trust issues in such a coming together. Wonder what customers think of the prospect?

Also, RRD's numbers aren't exactly peachy so the cynic in me wonders whether this deal, if successful, will handily obfuscate for some time to come any underlying issues with RRD's own business. I hardly see a rosy future for directories printing, for example. There has been speculation that it's looking to offload its Polish business. And in the world of business process outsourcing (BPO) there's at least one highly significant contract review underway that may or may not go RRD's way. But perhaps in the scheme of the world's biggest ever print merger such minutiae is all small beer.