Fidelity National Information Solutions Announces Closing Of Micro General Merger
July 10, 2002
SANTA BARBARA, Calif., /PRNewswire-FirstCall/ -- Fidelity National Information Solutions, Inc. (Nasdaq: FNIS - News), a comprehensive source for real estate-related data, technology solutions and services, today announced the closing of the transaction in which Micro General Corporation (formerly Nasdaq: MGEN) became a wholly owned subsidiary of FNIS.
Under the terms of the tender offer and merger, each share of MGEN common stock was exchanged for .696 shares of FNIS common stock. FNIS issued 12.1 million shares to MGEN stockholders, resulting in 36.8 million outstanding shares of FNIS common stock. FNIS received stockholder approval for the issuance of the shares at its annual meeting of stockholders on July 8, 2002. Fidelity National Financial, Inc. (NYSE: FNF - News) now owns approximately 70% of FNIS after the close of the merger.
Source: Fidelity National Information Solutions, Inc.