The corporate owner of check printer Harland Clarke and coreprocessor Harland Financial Solutions is going private.
|M&F Worldwide Corp. said Monday its board has approvedmerging with MacAndrews & Forbes Holdings, financier RonaldPerelman's investment firm which already owned 43% of M&FHolding's publicly traded stock.
|M&F Worldwide owns Harland Clarke Holdings Corp., which ownsHarland Clarke integrated payment solutions and check printingcompany based in San Antonio, Texas; core processor and integrated services provider Harland Financial Solutions inLake Mary, Fla.; and assessment and survey specialist Scantron inEagan, Minn.
|M&F Worldwide's other property, according to its website, isMafco Worldwide Corp., a licorice products specialist.
|M&F Worldwide had acquired John H. Harland Co. in a $1.7 billion deal in 2007, giving it ownership of HarlandFinancial Solutions and Scantron. Combined with its 2005 purchaseof Clarke American, that made it one of the nation's largest papercheck printers.
|Outstanding shares of M&F Worldwide will be worth $25 in thetransaction, a 22% premium to the company's Friday closing price onthe New York Stock Exchange, the company said.
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