M&F, John H. Harland granted early termination of waiting period for merger

By Lisa Kerner

Charlotte, N.C., April 4 - The Department of Justice granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of John H. Harland Co. and M&F Worldwide, according to a news release.

Under a Dec. 20, definitive merger agreement, M&F Worldwide will acquire Harland for $52.75 per share in cash in a transaction valued at about $1.7 billion.

Harland will become a wholly owned subsidiary of M&F Worldwide following the transaction's close, now expected in the second quarter of 2007.

The transaction was approved by Harland's shareholders on March 28.

M&F Worldwide is the New York-based parent company of Clarke American and offers marketing services and products to customers of over 3,200 financial institutions.

Atlanta-based Harland provides printed products and related services sold to the financial institution market.

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