Filed by: Deluxe Corporation
Pursuant to Rule 425 under the Securities Act of 1933
Commission File No.: 0-30791
Subject Company: eFunds Corporation
The following language is included in the proxy statement, dated June
23, 2000, which Deluxe Corporation will mail to its shareholders on July 3,
2000:
"WE URGE INVESTORS AND SECURITY HOLDERS TO READ EFUND CORPORATION'S
REGISTRATION STATEMENT ON FORM S-4, INCLUDING THE PROSPECTUS RELATING TO THE
EXCHANGE OFFER DESCRIBED HEREIN, WHEN IT BECOMES AVAILABLE, BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. WHEN THESE AND OTHER DOCUMENTS RELATING TO THE
TRANSACTION ARE FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION, THEY MAY
BE OBTAINED FREE AT THE SEC'S WEB SITE AT WWW.SEC.GOV. HOLDERS OF DELUXE COMMON
STOCK MAY ALSO OBTAIN EACH OF THESE DOCUMENTS (WHEN THEY BECOME AVAILABLE) FOR
FREE BY DIRECTING YOUR REQUEST TO DELUXE CORPORATION, C/O SHAREOWNER SERVICES,
P.O. BOX 64873, SAINT PAUL, MINNESOTA 55164-0873. THIS COMMUNICATION SHALL NOT
CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL
THERE BY ANY SALE OF SECURITIES IN ANY STATE IN WHICH THE OFFER, SOLICITATION OR
SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE
SECURITIES LAWS OF ANY SUCH STATE. NO OFFERING OF SECURITIES SHALL BE MADE
EXCEPT BY MEANS OF A PROSPECTUS MEETING THE REQUIREMENTS OF SECTION 10 OF THE
SECURITIES ACT OF 1933, AS AMENDED....
During 1999, the Company announced that it planned to reduce its corporate
support group and move most corporate resources into the Company's operating
units to enable them to operate more independently. These moves were
substantially completed by the end of 1999. In April 1999, the Company announced
that it was changing its business model to a holding company structure with four
independently operated business units: Paper Payment Systems; Electronic Payment
Solutions; Professional Services and Government Services. In January 2000, the
Company announced that its Board of Directors approved a plan to combine its
Electronic Payment Solutions, Professional Services and Government Services
segments into a separate, independent, publicly traded company to be called
eFunds Corporation ("eFunds").
eFunds has filed a registration statement with the Securities and Exchange
Commission to issue shares of its common stock to the public through an initial
public offering (the "eFunds IPO"). After this offering, the Company will
continue to own at least 80.1% of eFunds' outstanding shares. The Company plans
to distribute all of its shares of eFunds' common stock to its shareholders who
tender shares of the Company's common stock in an exchange offer (the
Split-off). The Company has requested a private letter ruling from the Internal
Revenue Service (IRS) that the Split-off would be a tax-free transaction to the
Company and its shareholders. The Split-off is contingent upon the Company
receiving a favorable tax ruling from the IRS.
Management believes that the plan to Split-off the Company's higher growth
businesses is consistent with its strategy to create strategically focused
enterprises that can independently achieve their business objectives, raise
capital and pursue growth opportunities in their respective markets. Management
also believes that splitting-off its electronic payment related businesses into
a publicly traded company maximizes shareholder value."
