Harland Clarke Holdings Corp. today announced the completion of its tender offer to purchase all outstanding shares of common stock of Valassis Communications, Inc. (NYSE:VCI) for $34.04 per share in cash. The tender offer expired on Monday, February 3, 2014 at 11:59 p.m. EST.
As of the expiration of the tender offer, approximately 25,830,607 shares were validly tendered and not withdrawn in the tender offer, representing approximately 66.0% of Valassis’ outstanding shares, according to the depositary for the tender offer. The condition to the tender offer that a majority of Valassis’ outstanding shares on a fully-diluted basis be validly tendered and not withdrawn has been satisfied, as have all other offer conditions. As a result, Harland Clarke Holdings Corp. has accepted for payment and will promptly pay for all validly tendered shares. Harland Clarke Holdings Corp. expects to complete the acquisition of Valassis later today through a merger as contemplated by its previously announced merger agreement with Valassis.
About Harland Clarke Holdings Corp.
Harland Clarke Holdings Corp. delivers to multiple industries a robust portfolio of products and services designed to optimize customer relationships and generate revenue. Its business units have long been recognized as leading providers of best-in-class payment solutions, marketing services, data capture, and analytics delivered through multiple channels, including online, digital print technology, mobile, and phone. Harland Clarke Holdings' portfolio offers retail products, high-value transactional print and electronic documentation, security solutions, and business intelligence. Its skills in capturing, managing, analyzing, and delivering data measurement and assessment information, through both print and digital channels, support decision-making and improved outcomes for organizations worldwide. Harland Clarke Holdings serves the financial, insurance and investment services industries, as well as education, big-box retailing, accounting software, commercial, government, and franchising. Its clients, including more than 8,500 financial institutions, range in size from major corporate brands and trade associations, to state and local governments, small businesses and individual consumers.