Harland shareholders approve merger with M&F Worldwide

By Lisa Kerner

Charlotte, N.C., March 28 - Shareholders of John H. Harland Co. approved the company's merger with M&F Worldwide Corp. on Wednesday.

M&F Worldwide will acquire Harland for $52.75 per share in cash in a transaction valued at about $1.7 billion.

Harland will become a wholly owned subsidiary of M&F Worldwide following the transaction's close in the second half of 2007.

The companies announced a definitive agreement on Dec. 20.

M&F Worldwide is the New York-based parent company of Clarke American and offers marketing services and products to customers of over 3,200 financial institutions.

Atlanta-based Harland provides printed products and related services sold to the financial institution market.

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