h digitalfootprint web 728x90

FGL’s ‘go-shop period’ ends; acquisition by Fidelity National Financial to proceed


FGL Holdings, the parent company of annuity company F&G in Des Moines, announced the expiration of the 40-day “go-shop period,” and said it will proceed with its previously announced acquisition by Fidelity National Financial Inc. Under the terms of the $2.7 billion merger agreement, F&G and its subsidiaries were permitted to actively solicit alternative acquisition proposals from third parties through March 18. During the go-shop period, F&G and its financial adviser, Credit Suisse, solicited 42 potential acquirers. Despite these efforts, F&G did not receive any alternative acquisition proposals during the go-shop period. The transaction with FNF is expected to close in the second or third quarter of 2020, subject to the satisfaction of customary closing conditions, including the receipt of regulatory clearances and approval by F&G shareholders.

Facebook Notice for EU! You need to login to view and post FB Comments!

prairiemeadows brd 020123 300x250