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Stock Market & Financial Investment News

News Breaks
August 12, 2014
16:12 EDTFNF, FNFV, 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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October 30, 2014
16:14 EDTFLTFleetCor raises FY14 adjusted EPS outlook to 5.07-$5.11 from $5.04-$5.10
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16:12 EDTFLTFleetCor reports Q3 EPS $1.37, consensus $1.34
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October 29, 2014
16:41 EDTFNFVFNFV reports Q3 EPS 6c, one estimate 15c
Reports Q3 revenue $657M, consensus $668.00M.
October 28, 2014
16:26 EDTFNFFidelity National increases quarterly dividend 6% to 19c
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October 21, 2014
09:36 EDTFNFFidelity National, Realogy recommended as long ideas by Robbins, Bloomberg says
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06:59 EDTFLTCabcharge rejects FleetCor offer for core payments unit, Reuters says
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October 20, 2014
06:51 EDTFNFVFNFV initiated with an Outperform at Keefe Bruyette
Target $17.

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