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FG - Fidelity's Acquisition Of FGL: There Is A Downside Potential
FGL Holdings
FGL Holdings (FGL) signed a merger agreement to be acquired by Fidelity National Information Services, Inc. (FIS) for $12.50 per share. FGL shareholders can choose either a cash option or share exchange option. Investors may not have carefully read the agreement, which includes a proration mechanism. Fidelity will pay approximately 60% in cash and 40% in stock. Fidelity’s own share price has declined, making the total amount of money to be paid equal to $7.7 per share. As a result, there is a downside of 24% in the stock price.