|
|
Article: FIDELITY NATIONAL FINANCIAL INC. RESPONDS TO US FACILITIES' CRITICISM OF ITS ACQUISITION PROPOSAL
- Article from:
- PR Newswire
- Article date:
- May 18, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. 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)
|
IRVINE, Calif., May 18 /PRNewswire/ -- Fidelity National Financial Inc. (NYSE: FNF), one of the nation's leading title insurance underwriters, announced today that, notwithstanding the doubts that US Facilities Corp. (Nasdaq: USRE) is seeking to create, its $15 per share acquisition proposal for US Facilities remains open and Fidelity can easily fund the transaction. Fidelity raised over $100 million in February 1994 through a public offering of convertible debt securities. In addition, it has funds available from other internal sources and under existing credit facilities. "We have the money. The US Facilities board was unable to say that our proposed $15 per share price is ...