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Article: Fidelity National Financial to create new public company.
- Article from:
- The Florida Times-Union (Jacksonville, FL)
- Article date:
- May 18, 2005
CopyrightCOPYRIGHT 2005 The Florida Times-Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mark Basch
May 18--Fidelity National Financial Inc., which has been exploring several new corporate structures in the past year to increase shareholder value, announced a plan Tuesday to create a new public company for its title insurance operations.
Under the plan, Fidelity would retain 82.5 percent of the title company and would distribute the remaining 17.5 percent to its existing shareholders. For every share of common stock Fidelity stockholders currently own, they would also get 0.175 shares of the yet unnamed title company.
Both Fidelity and the title insurance company would be headquartered in Jacksonville, and the change in ...