Harland Clarke Holdings To Acquire Valassis For Approx. $1.84 Bln - Quick Facts

(RTTNews) - Harland Clarke Holdings Corp. and Valassis (VCI) announced a definitive merger agreement under which, Harland Clarke Holdings will acquire Valassis. Harland Clarke Holdings, a subsidiary of MacAndrews & Forbes Holdings Inc., will acquire all of the outstanding shares of Valassis for $34.04 per share in cash, representing a transaction value of approximately $1.84 billion.

The transaction will be effected through a tender offer by a subsidiary of Harland Clarke Holdings for all of the shares of Valassis, followed by a merger of the acquisition subsidiary with and into Valassis. Valassis will become a privately-held, wholly owned subsidiary of Harland Clarke Holdings and its common stock will cease trading on the NYSE.

Valassis stated that it will not provide earnings guidance going forward. Valassis will not issue its previously announced 2014 guidance or host the conference call scheduled for December 18.