Deal Leaves Clarke American InLimbo
SAN ANTONIO, Texas - (12/28/04) -- The future of Clark American ChecksInc. has been left up in the air after Honeywell International'sdeal to acquire the check printer's parent, Novar plc. of Britain.As part of the $2.4 billion deal, Honeywell said it plans to sellof Novar's non-related assets, which includes Clarke American.Honeywell is expected t take several months to decide on adivestiture plan, according to the companies. Clarke American wasfounded in San Antonio in 1874 and currently provides checks andrelated business forms to more than 4,000 credit unions andbanks.