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Online coupon company RetailMeNot bought by Harland Clark

NEW YORK (AP) — Direct mail and marketing services company Harland Clark Holdings Corp. is buying online coupon company RetailMeNot Inc.

Harland Clark is paying $11.60 per share for RetailMeNot, a 50 percent premium on the Austin, Texas-based company’s closing stock price of $7.75 on Monday.

Given the number of RetailMeNot shares outstanding, the deal is valued at about $560 million. The companies listed the deal’s equity value, which includes debt, the value of stock options and convertible securities, at $630 million.

RetailMeNot’s shares soared Tuesday to hover near the deal price.

Harland Clarke is a subsidiary of MacAndrews & Forbes Inc., an investment firm headed by Ronald Perelman.

The deal is expected to close in the second quarter.

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