Clarke American Announces Financing for Harland Takeover

SAN ANTONIO – Clarke American Corp. said Friday it is preparing a private placement of $615 million of senior floating-rate and fixed-rate notes to help finance its $1.7 billion takeover of John H. Harland Co. The deal is part of a plan by corporate raider Ron Perelman to merge Clare American’s and Harland’s check printing operations, currently the second- and third-largest in the country. The combination, creating the world’s largest check-printer, was approved by antitrust regulators in the Bush Administration. Both Clarke American and Harland were acquired by M&F Worldwide, Perelman’s holding company. Clarke American was acquired by M&F in 2005 for $800 million.

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