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Stock Market & Financial Investment News

News Breaks
January 3, 2014
16:06 EDTFNFFidelity National announces formation of Black Knight Financial Services
Fidelity National Financial announced the reorganization of the former Lender Processing Services businesses, the formation of a wholly-owned subsidiary called Black Knight Financial Services and the issuance of a 35% interest in each of Black Knight's two operating subsidiaries, ServiceLink Holdings and Black Knight Financial Services, to funds affiliated with Thomas H. Lee Partners and certain related entities. Black Knight, through ServiceLink and BKFS, now owns and operates the former LPS businesses and FNF's ServiceLink business. FNF's core operating subsidiaries now consist of Fidelity National Title Group and Black Knight. Tom Sanzone will be the CEO of BKFS, and Chris Azur will be the CEO of ServiceLink.
News For FNF From The Last 14 Days
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May 20, 2015
08:17 EDTFNFFidelity National has upside following Black Knight Financial IPO, says Barclays
The 18M shares Black Knight Financial (BKFS) IPO was priced at $24.50 last night. Barclays said Fidelity National (FNF) owns approximately 56% of Black Knight Financial, implying $8 of equity value per a share of Fidelity National. The firm's sum-of-the-parts analysis indicates fair value of $42 for Fidelity National. Barclays rates Fidelity National an Overweight with a $38.50 price target.

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