Justice Department Clears Combination of Top Check Printers

ATLANTA – Antitrust regulators with the U. S. Justice Department yesterday cleared the acquisition of John H. Harland Co., paving the way for corporate raider Ron Perelman to combine Harland’s check printing operations with his Clarke American unit to create the nation’s number one check printer. The ruling comes a week after the $1.7 billion deal was approved by Harland shareholders. Under the deal, Harland shareholders will be paid $52.75 a share in cash by M&F Worldwide, the holding company controlled by Perelman’s MacAndrews and Forbes. M&F has two main business lines; Mafco Worlwide, a producer of licorice products; and Clarke American, which M&F acquired in 2005 for $800 million. The Harland deal comes just two years after Harland acquired Liberty, one of the top four check printers, and now makes the combined entities under the Perelman umbrella bigger than the long-time leader, Deluxe Corp. The deal is expected to close in the second quarter.