Deluxe Completes Tender Offer for New England Business Service, Inc.
Press release from the issuing company
ST. PAUL, Minn., June 25 -- Deluxe Corporation today announced the successful completion of the cash tender offer for all outstanding shares of common stock of New England Business Service, Inc.. The tender offer, which commenced on May 25, 2004, expired at 11:59 p.m. EDT on Thursday, June 24, 2004.
A total of approximately 13.1 million shares of NEBS common stock were validly tendered and not withdrawn prior to the expiration of the offer, representing 98 percent of the outstanding shares of NEBS. Deluxe has accepted these shares and payment will be made promptly.
Deluxe expects to complete the acquisition of NEBS later today through a short-form merger in which shares of common stock not purchased in the tender offer will be converted into the right to receive $44.00 per share in cash, without interest. A letter of transmittal to be used for surrendering certificates in exchange for the cash will be sent to holders who did not tender their shares in the offer.
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