New England Business (NYSE:NEB)
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Deluxe Completes Tender Offer for New England Business Service,
Inc.
ST. PAUL, Minn., June 25 /PRNewswire-FirstCall/ -- Deluxe Corporation
(NYSE:DLX) today announced the successful completion of the cash tender offer
for all outstanding shares of common stock of New England Business Service,
Inc. (NYSE:NEB). 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tendered and not withdrawn prior to the expiration of the offer, representing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.
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.deluxe.com/
http://www.nebs.com/