(Corrects to remove reference in paragraph 3 to investors
expecting a higher offer. The stock rose above the offer price
because the company said it would still pay its 31-cent
Dec 18 Bank-check printer Harland Clarke
Holdings Corp said it would buy Valassis
Communications Inc, a printer of newspaper inserts and
coupons, in a $1.84 billion deal.
The $34.04 per share cash offer represents a 20.3 percent
premium to Valassis' closing price on Tuesday.
Valassis shares were trading at $34.29 before the bell, as
the company also said it would still pay out a 31-cent quarterly
dividend ahead of the deal closing.
The combined company will have revenue of about $3.3 billion
in revenue, the companies said.
Harland Clarke said it would finance the acquisition with
cash on hand and borrowings and has received committed financing
from Credit Suisse, BofA Merrill Lynch and Citigroup Global
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by