FNFV Group (FNFV) – Odd Lot Tender Offer – 6% potential

Current Price – $14.5

Offer Price – $14.3 - $15.4

Upside – 6.2% or $90 ( for odd lot holders, if the upper pricing limit is used)

Expiration date –  20 March 2015

SEC Filling

Summary:

FNF invites its stockholders to tender some or all of their Shares for purchase by us. Upon the terms and subject to the conditions of this Offer to Purchase and the Letter of Transmittal, we are offering to purchase Shares pursuant to (i) Auction Tenders at prices specified by the tendering stockholders of not less than $14.30 nor greater than $15.40 per Share, or (ii) Purchase Price Tenders. We are offering to purchase Shares having an aggregate Purchase Price of no more than $185,000,000. After the Expiration Time, assuming the conditions to the Offer have been satisfied or waived, we will select the single lowest price within the price range for the Offer that will allow us to purchase $185,000,000 of Shares at such price 

At the maximum Purchase Price of $15.40 per Share, we would purchase 12,012,987 Shares if the Offer is fully subscribed, which would represent approximately 13.18% of the issued and outstanding shares of FNFV Group common stock

 

No proration for Odd Lot holders:

First, we will purchase all Odd Lots of less than 100 Shares at the Purchase Price from stockholders who properly tender all of their Shares at or below the Purchase Price and who do not properly withdraw them before the Expiration Time (tenders of less than all of the Shares owned, beneficially or of record, by such Odd Lot Holder will not qualify for this preference).

 

Source of Funds:

If the Offer is fully subscribed, we will purchase $185,000,000 of Shares in the Offer. We expect to fund the purchase of Shares tendered in the Offer and accepted by us, and all expenses attributable to the Offer, from our cash on hand that is attributed to our FNFV Group. The Offer is not conditioned upon the receipt of financing.