Corillian shareholders approve CheckFree merger; deal slated to close in second quarter

By Lisa Kerner

Charlotte, N.C., April 30 - Corillian Corp. shareholders approved the Feb. 13 merger agreement among Corillian, CheckFree Corp. and a wholly owned subsidiary of CheckFree.

CheckFree's subsidiary will merge into Corillian and Corillian's shareholders will receive $5.15 per share in a cash transaction valued at $245 million.

The merger is expected to close in the second quarter of 2007, according to a company news release.

CheckFree is an Atlanta-based provider of financial electronic commerce services and products.

Corillian is a Portland, Ore., online banking, payment and security services company.

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