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Fidelity National Financial, Inc. Message Board

  • omaha_gil omaha_gil Apr 20, 2010 8:24 AM Flag

    CEO worth every penny/FNF soars today

    7:59AM Fidelity National announces sale of Sedgwick CMS (FNF) 15.04 +0.29 : Co announced the signing of a definitive agreement under which it will sell its 32% equity ownership stake in Sedgwick Claims Management Services, to affiliates of Stone Point Capital LLC and Hellman & Friedman LLC. Under the terms of the definitive agreement, the total cash purchase price for Sedgwick, including repayment of debt, will be approximately $1.1 billion. FNF expects to receive net proceeds of approximately $220 million for its 32% equity ownership stake, resulting in a pre-tax gain of approximately $95 million. The transaction is expected to close during the second quarter of 2010, subject to customary closing conditions and the receipt of any necessary regulatory approvals.

 
FNF
28.31+0.04(+0.14%)Aug 29 4:00 PMEDT

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