Fidelity National Takeover Talks Fail: WSJ

Fidelity National Takeover Talks Fail: WSJ

Fidelity National Takeover Talks Fail: WSJ

MAY 17, 2010, 10:55 P.M. ET

BY PETER LATTMAN: The Wall Street Journal

The pending takeover of Fidelity National Information Services Inc. collapsed late Monday, with a Blackstone Group-led consortium dropping its plan to acquire the financial-data processor, according to a person familiar with the situation.

Fidelity National’s board had asked for a “substantial increase” above the $32-per-share bid the private-equity firms had proposed, said a person familiar with the deal talks. The two sides couldn’t reach an agreement on price, this person said, and the investor group backed out of the deal.

Late Monday, Fidelity National shares dropped nearly 10% in after-hours trading, to roughly $26 each. (Fidelity National is unrelated to

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RELATED STORY: Reports say buyout firms looking to acquire Fidelity National Information Services Inc. (FIS)

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