Certegy Shareholders Cash Out On FidelityMerger

Register now

ST. PETERSBURG, Fla. - (02/02/060 – Stockholders of Certegy Inc.were paid a special $250 million reward when they voted last weekto approve the cards processor’s merger with FidelityNational’s outsourcing group. The company said it raised the$250 million in the capital markets this week and will use themoney to pay shareholders a special cash dividend of $3.75 a shareas part of the merger agreement. The merger will combine Certegywith Fidelity National’s Fidelity National InformationService, which is comprised of the old Aurum Technologies, SanchezComputer Associates, ALLTEL Information Services and VISTAInformation Solutions and InterCept Inc. The new company is beingspun off from Fidelity National’s core title insurancebusiness and will trade separately on the New York Stock Exchangeunder the symbol FIS

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER