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Stock Market & Financial Investment News

News Breaks
June 23, 2014
15:36 EDTFNFComdata fields interest, could fetch over $3B in potential sale, DJ says
Comdata, which is owned by Thomas H. Lee and Fidelity National Financial, has received interest from potential buyers and could fetch over $3B in a potential sale, according to Dow Jones, citing sources.
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August 20, 2014
11:57 EDTFNFFidelity National requests withdrawal of registration statement
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August 12, 2014
16:12 EDTFNFFidelity 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.
August 11, 2014
10:27 EDTFNFFidelity National management to meet with Stephens
Meetings to be held in New York on August 14-15 hosted by Stephens.

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