Key Developments: Fidelity National Financial Inc (FNF.N)
25.03USD
1 Aug 2013
$0.55 (+2.25%)
$24.48
$24.70
$25.35
$24.70
831,165
686,460
$27.16
$18.07
Latest Key Developments (Source: Significant Developments)
Fidelity National Financial Inc Announces Quarterly Cash Dividend Of $0.16
Fidelity National Financial Inc announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share. The dividend will be payable September 30, 2013, to stockholders of record as of September 16, 2013. Full Article
Lender Processing Services Inc Announces Adjustment to Consideration Mix in Acquisition by Fidelity National Financial Inc
Lender Processing Services Inc announced that Fidelity National Financial Inc has exercised its option to adjust the consideration mix in its previously announced acquisition of LPS by increasing the cash component of the total consideration by approximately $500 million and correspondingly decreasing the stock component of the total consideration by an equal amount. FNF will directly provide $300 million of the $500 million increase, with funds affiliated with Thomas H. Lee Partners, L.P. (THL) providing the remaining $200 million. The total consideration will be unchanged and the additional $500 million cash component will be offset by an equal reduction in the stock component of the total consideration. On May 28, 2013, LPS signed a definitive agreement under which FNF will acquire all of the outstanding stock of LPS for $33.25 per common share, for a total equity value of approximately $2.9 billion. Under the definitive agreement, FNF's shares of common stock have been valued at $25.489 per share (the Reference Price). Based on the increased cash component of the total consideration, that now represents a fixed exchange ratio of 0.42948 shares of FNF common stock for each share of LPS common stock. Based on the Reference Price, FNF currently expects to issue approximately 37.8 million shares of FNF common stock to LPS common stockholders, representing approximately 14.2% of FNF's pro-forma, fully diluted outstanding shares. Full Article
Fidelity National Financial Inc To Acquire Lender Processing Services, Inc. For $33.25 Per Common Share
Fidelity National Financial Inc and Lender Processing Services, Inc. announced the signing of a definitive agreement under which FNF will acquire all of the outstanding common stock of LPS for $33.25 per common share, for a total equity value of approximately $2.9 billion. Under the terms of the definitive agreement, FNF will pay 50% of the consideration for the LPS shares of common stock in cash and 50% in shares of FNF common stock, subject to adjustment as described below. The purchase price represents a 19% and 25% premium, respectively, to the prior 30 day and 60 day average closing prices for LPS' common stock through May 22, 2013, the last trading day before media reports regarding a potential transaction between FNF and LPS. At closing, FNF will combine its ServiceLink business with LPS in a new consolidated holding company and sell a 19% minority equity interest in the new consolidated holding company to funds affiliated with Thomas H. Lee Partners, L.P. for approximately $381 million in cash. FNF will retain an 81% ownership interest in the new consolidated holding company. Closing of the transaction is currently expected to occur in the fourth quarter of 2013. Full Article
Fidelity National Financial Inc and Thomas H. Lee Partners In Talks To Buy Lender Processing Services Inc-Reuters
Reuters reported that Fidelity National Financial Inc and buyout firm Thomas H. Lee Partners are in advanced talks to acquire Lender Processing Services Inc. The deal, worth about $2.9 billion, would value Lender Processing shares at around $33 per share, the Wall Street Journal reported. The buyers would pay with a mix of cash and Fidelity National Financial stock, the paper said, adding that Thomas H. Lee would hold a 19.9% stake in Lender Processing. The deal could be announced as soon as early next week. Fidelity National and Lender Processing Services were not immediately available for comment. Thomas H. Lee declined to comment. If the deal is completed, Lender Processing Services would become a subsidiary of Fidelity National Financial, the Wall Street Journal said. Full Article
Fidelity National Financial Inc Announces Quarterly Cash Dividend Of $0.16
Fidelity National Financial Inc announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share. The dividend will be payable June 28, 2013, to stockholders of record as of June 14, 2013. Full Article
Fidelity National Financial Inc Announces Quarterly Cash Dividend Of $0.16
Fidelity National Financial Inc announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per share. The dividend will be payable March 29, 2013, to stockholders of record as of March 15, 2013. Full Article
Digital Insurance Finalizes Acquisition By Fidelity National Financial Inc
Digital Insurance Inc. announced the completion of its acquisition by Fidelity National Financial Inc which will allow Digital to accelerate and broaden its market position in the employee benefits arena. As the industry struggles to adapt to new health care reform legislation, Digital has proven to be a front-runner in advisory services and health care reform education for businesses, as well as individuals and families around the nation. Full Article
Fidelity National Financial Inc Announces Acquisition of Digital Insurance, Inc.
Fidelity National Financial Inc announced the acquisition of Digital Insurance, Inc. The employee benefits platform specializing in health insurance distribution and benefits management for small and mid-sized businesses. Digital manages more than 20,000 employer clients, 250 broker partnerships and more than $1 billion in annual premiums. Full Article
Fidelity National Financial Inc Announces 14% Increase In Quarterly Cash Dividend To $0.16
Fidelity National Financial Inc announced that its Board of Directors has declared an increased quarterly cash dividend of $0.16 per share, an increase of 14% from the previous quarterly cash dividend of $0.14. The dividend will be payable December 28, 2012, to stockholders of record as of December 14, 2012. Full Article
Fidelity National Financial Inc and J Alexander's Corp Announce Completion of Merger of Subsidiary
Fidelity National Financial Inc (FNF) and J Alexander's Corp announced the completion of the merger of FNF's indirect wholly owned subsidiary, New Athena Merger Sub Inc (Merger Sub), with and into J. Alexander's. At the effective time of the merger, each share of J. Alexander`s common stock outstanding immediately prior to the effective time of the merger that was not accepted for payment pursuant to Merger Sub`s tender offer for J. Alexander`s common stock (other than shares held by J. Alexander`s or Merger Sub, which shares were cancelled without any conversion) converted into the right to receive the same $14.50 per share in cash, without interest and less any applicable withholding taxes, that was paid in the tender offer. Full Article
FNF to buy Lender Processing Services for $2.9 billion
- Title insurer Fidelity National Financial Inc said it will buy Lender Processing Services Inc for about $2.9 billion in cash and stock to grow its mortgage servicing business.

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