Ronald Perelman is taking advantage of a temporary drop in share prices to take his M&F Worldwide Corp (MFW.N) affiliate private, and the financier's proposed deal should be blocked, according to a shareholder's lawsuit. An investment vehicle owned by the billionaire financier proposed on Monday buying the 57 percent of M&F Worldwide it does not already own, in a deal that one analyst criticized as a "lowball offer." The deal comes during a blip lower in the stock price and just as the business is about to reap benefits from a series of recent acquisitions, according to the lawsuit by shareholder Charlotte Martin, which was filed in Delaware's Chancery Court. M&F Worldwide's various operations include a bank check printing business, data management services and a maker of licorice products.
M & F Worldwide Corp. (M & F Worldwide) is a holding company that conducts its operations through its indirect wholly owned subsidiaries, Harland Clarke Holdings Corp. Shares of MFW traded higher by 0.33% or $0.08/share to $24.17. In the past year, the shares have traded as low as $16.77 and as high as $30.77. On average, 82058 shares of MFW exchange hands on a given day and today's volume is recorded at 144331.
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