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Stock Market & Financial Investment News

News Breaks
August 12, 2014
16:12 EDTFNFV, FNF, FLTFidelity National announces sale of Ceridian to FleetCor to $3.45B
Fidelity National Financial Ventures (FNFV), a tracking stock established to highlight the inherent value of the portfolio company investments of Fidelity National Financial (FNF), announced that Ceridian LLC has reached an agreement to sell Comdata Into FleetCor (FLT) for total consideration of approximately $3.45B. After repayment of existing Comdata indebtedness and transaction related expenses, total consideration received by Ceridian LLC will be approximately $950M, which will be paid in shares of FleetCor common stock. FNFV owns approximately 32% of Ceridian LLC. Approximately $250M of the common stock of FleetCor will be placed in an escrow account to cover potential indemnity claims as set forth in the merger agreement. The escrowed shares will be released over a three-year period. FNFV will indirectly own approximately 2.3M shares of FleetCor common stock valued at approximately $300M based on FleetCor's closing stock price of $131.54 on August 11. The transaction is subject to customary closing conditions, including receipt of HSR approval and other governmental approvals with respect to Comdata's money transmitter license business. Closing is expected in December 2014.
News For FNF;FNFV;FLT From The Last 14 Days
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February 23, 2015
08:14 EDTFNFVFNFV announces tender offer to repurchase up to $185M of common stock
Fidelity National Financial Ventures announced that the FNF board has approved the repurchase of up to $185M of FNFV common stock at a price range between $14.30 - $15.40 per common share through a modified Dutch auction tender offer. Under this offer, holders of FNFV common stock may tender all or a portion of their common shares within the $14.30 - $15.40 price range. Based on the number of FNFV common shares tendered and the prices specified by the tendering shareholders, FNFV will determine the lowest price per common share within the range that will enable it to purchase $185 million in shares of FNFV common stock, or such lesser amount depending on the number of shares of common stock that are properly tendered and not properly withdrawn. All shares accepted in the tender offer will be purchased at the same price, regardless of whether a shareholder tendered such shares at a lower price within the range.
February 18, 2015
16:15 EDTFNF, FNFVFNFV announces sale of all assets of Cascade Timberlands
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16:12 EDTFNFFidelity National reports Q4 EPS 50c, consensus 47c
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