Deluxe Granted Hart-Scott-Rodino Clearance and Extends Tender Offer for New England Business Service to June 24
June 17 2004 - 6:11PM
PR Newswire (US)
Deluxe Granted Hart-Scott-Rodino Clearance and Extends Tender Offer
for New England Business Service to June 24 ST. PAUL, Minn., June
17 /PRNewswire-FirstCall/ -- Deluxe Corporation (NYSE:DLX) said
today that it received early termination of the 15-day waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act for
its pending acquisition of New England Business Service, Inc.
(NYSE:NEB). Deluxe also announced that it has decided to extend the
expiration of the tender offer period for the pending acquisition
to gain transaction reporting efficiencies and to accommodate the
market. The tender offer, which commenced on May 25, 2004, and was
scheduled to expire at 11:59 p.m. EDT on Wednesday, June 23, 2004,
has been extended to 11:59 p.m. EDT on Thursday, June 24, 2004,
subject to the terms and conditions of the parties' Agreement and
Plan of Merger and the tender offer, unless further extended. The
short extension facilitates the financial and tax reporting
processes associated with the completion of NEBS' fiscal year-end
and the consolidation with Deluxe's calendar year reporting. The
extension also serves to accommodate the market following the
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act. As of the close of business on June 16,
2004, approximately 827,000 shares of NEBS common stock,
representing approximately 6 percent of the total outstanding
shares, had been validly tendered and not withdrawn in connection
with the tender offer. Goldman Sachs and Co. is acting as
dealer/manager, and Georgeson Shareholder Communications is acting
as the information agent of the tender offer. This announcement is
neither an offer to purchase nor a solicitation of an offer to sell
shares of New England Business Service, Inc. On May 25, 2004,
Deluxe filed a tender offer statement with the Securities and
Exchange Commission (SEC) and New England Business Service filed a
solicitation/recommendation statement with respect to the offer.
New England Business Service shareholders are advised to read the
tender offer statement regarding the acquisition of New England
Business Service referenced in this news release, and the related
solicitation/recommendation statement. The tender offer statement
and the solicitation/recommendation statement contain important
information which should be read carefully before any decision is
made with respect to the offer. These documents have been made
available to all shareholders of New England Business Service at no
expense to them. These documents are also available at no charge on
the SEC's web site at http://www.sec.gov/ . About Deluxe
Corporation Deluxe Corporation provides personal and business
checks, business forms, labels, personalized stamps, fraud
prevention services and customer retention programs to banks,
credit unions, financial services companies, consumers and small
businesses. The Deluxe group of businesses reaches clients and
customers through a number of distribution channels: the Internet,
direct mail, the telephone and a nationwide sales force. Since its
beginning in 1915, Deluxe Corporation has been instrumental in
shaping the U.S. payments industry. More information about Deluxe
can be found at http://www.deluxe.com/ . About New England Business
Service, Inc. NEBS is a leading business-to-business company with
approximately 3.1 million active small business customers in the
United States, Canada, the United Kingdom and France. It supplies a
wide variety of business products and services including checks,
forms, packaging supplies, embossed foil anniversary seals and
other printed material which are marketed through direct mail,
telesales, a direct sales force, dealers, dedicated distributors
and the Internet. NEBS also designs, embroiders and sells specialty
apparel products through distributors and independent sales
representatives to the promotional products/advertising specialty
industry, primarily in the United States. More information about
NEBS can be found at http://www.nebs.com/ . DATASOURCE: Deluxe
Corporation CONTACT: Stuart Alexander, Vice President, Investor
Relations, +1-651-483-7358, or Douglas J. Treff, Senior Vice
President, Chief Financial Officer, +1-651-787-1587, both of Deluxe
Corporation Web site: http://www.nebs.com/ http://www.deluxe.com/
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