Harland Clarke, a payment and marketing services firm, will acquire online coupon site RetailMeNot in a deal worth $630 million in equity. Harland Clarke will..
Harland Clarke , a payment and marketing services firm, will acquire online coupon site RetailMeNot in a deal worth $630 million in equity. Harland Clarke will pay $11.60 per share in cash, which is about 50% higher than the stock’s closing price of $7.75 on April 7.
A subsidiary of MacAndrews and Forbes Holdings, the investment firm owned by Ronald Perelman, Harland Clarke provides an array of services for financial institutions, including research, marketing and programs that manage paper checks (yes, people still use them ).
In 2013, Harland Clarke acquired Valassis Communications, a direct mailer company, for $1.31 billion. It plans to use RetailMeNot to extend the reach of the coupons and promotions it manages.
