News Column

Fidelity National Financial, Inc. Announces Stockholder Approval of Tracking Stock Proposals

July 4, 2014



By a News Reporter-Staff News Editor at Insurance Weekly News -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, technology and transaction services to the real estate and mortgage industries, announced that its stockholders have approved four separate proposals related to the formation of a tracking stock, Fidelity National Financial Ventures ("FNFV"), that will track the performance of its portfolio company investments. Each share of FNF common stock outstanding at the time of closing will be converted into one share of FNF Group common stock and 0.3333 shares of FNFV Group common stock.

Stockholders approved the Tracking Stock Proposal, with 58% of outstanding shares voting For, the Reclassification Proposal, with 58% of outstanding shares voting For, the Optional Conversion Proposal, with 56% of outstanding shares voting For, and the Group Disposition Proposal, with 56% of outstanding shares voting For.

FNF plans to close the tracking stock transaction and distribute the shares of FNFV on June 30, 2014, with a when-issued market in FNFV taking place between June 23, 2014, and June 30, 2014. Regular trading of FNFV will commence on July 1, 2014.

Keywords for this news article include: Industry, Financial Companies, Surety and Title Insurance Companies.

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Source: Insurance Weekly News


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