Fidelity National Financial and Fidelity National Information Services Announce Final Exchange Ratio for Merger of FNF With and
November 07 2006 - 9:48AM
PR Newswire (US)
JACKSONVILLE, Fla., Nov. 7 /PRNewswire-FirstCall/ -- Fidelity
National Financial, Inc. (NYSE:FNF) and Fidelity National
Information Services, Inc. (NYSE:FIS) today announced the final
exchange ratio for the merger of FNF with and into FIS. Under the
terms of the merger, FNF shareholders will receive 0.537410 shares
of FIS common stock for each share of FNF common stock, based on
FNF's ownership of 96,521,877 shares of FIS common stock and
179,605,521 shares of outstanding FNF common stock. The merger is
expected to close on November 9, 2006. Fidelity National Financial,
Inc. (NYSE:FNF), is a provider of outsourced products and services
to a variety of industries. Through its majority-owned, publicly
traded subsidiary, Fidelity National Information Services, Inc.
(NYSE:FIS), FNF provides an industry leading suite of data
processing, payment and risk management services to financial
institutions and retailers. http://www.fnf.com/. Fidelity National
Information Services, Inc. (NYSE:FIS) is a leading provider of core
processing for financial institutions; card issuer and transaction
processing services; mortgage loan processing and mortgage-related
information products; and outsourcing services to financial
institutions, retailers, mortgage lenders and real estate
professionals. FIS has processing and technology relationships with
35 of the top 50 global banks, including nine of the top ten.
Nearly 50 percent of all U.S. residential mortgages are processed
using FIS software. Headquartered in Jacksonville, Florida, FIS
maintains a strong global presence, serving over 7,800 financial
institutions in more than 60 countries worldwide. For more
information on Fidelity National Information Services, please visit
http://www.fidelityinfoservices.com/. This press release contains
forward-looking statements that involve a number of risks and
uncertainties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking
statements. Forward-looking statements are based on management's
beliefs, as well as assumptions made by, and information currently
available to, management. Because such statements are based on
expectations as to future economic performance and are not
statements of fact, actual results may differ materially from those
projected. We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to: changes
in general economic, business and political conditions, including
changes in the financial markets; adverse changes in the level of
real estate activity, which may be caused by, among other things,
high or increasing interest rates, a limited supply of mortgage
funding or a weak U. S. economy; the potential inability of FIS to
find suitable acquisition candidates, or difficulties of FIS in
integrating acquisitions; the risk that the recent merger between
FIS and Certegy Inc. may fail to achieve beneficial synergies or
that it may take longer than expected to do so; the effects of
substantial leverage at FIS, which may limit the funds available to
make acquisitions and invest in its business; the risks of
reduction in revenue from the elimination of existing and potential
FIS customers due to consolidation in the banking, retail and
financial services industries; failures to adapt the services of
FIS to changes in technology or in the marketplace; and other risks
detailed in the "Statement Regarding Forward-Looking Information,"
"Risk Factors" and other sections of the Form 10-K of FIS and other
filings with the Securities and Exchange Commission. DATASOURCE:
Fidelity National Financial, Inc.; Fidelity National Information
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and
Investor Relations, Fidelity National Financial, Inc.,
+1-904-854-8120, or ; or Mary Waggoner, Senior Vice President,
Investor Relations, Fidelity National Information Services, Inc.,
+1-904-854-3282, or Web site: http://www.fnf.com/
http://www.fidelityinfoservices.com/
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