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News Breaks | | | | September 26, 2012 | | 08:47 EDT |  | FIFS | First Investors Financial Services to acquired for $13.87/share in cash
First Investors Financial Services Group announced that it has entered into a definitive merger agreement with FIFS Holdings, a company controlled by Aquiline Capital Partners LLC, a New York-based private equity firm investing in the financial services sector. Under the merger agreement, FIFS Holdings will acquire all of the outstanding shares of First Investors common stock in an all-cash transaction valuing First Investors at $100M. Stockholders of First Investors will receive $13.87 for each share of First Investors common stock they hold. The parties anticipate closing the merger as soon as practicable after receiving the approval of the Company's stockholders and the satisfaction or waiver of the other closing conditions. The directors and certain officers and stockholders of First Investors representing in the aggregate approximately 58% of the outstanding common stock of First Investors have entered into an agreement to vote their shares of First Investors common stock in favor of the merger, including funds managed by and affiliates of Jacobs Asset Management, LLC, the Company's largest stockholder, with approximately 42% of the outstanding common stock. | |
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News For FIFS From The Last 14 Days Check below for free stories on FIFS the last two weeks. |
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