JACKSONVILLE, Fla.--(BUSINESS WIRE)--Fidelity National Information Services, Inc. (“FIS”) (NYSE:FIS) announced today the launch of its previously announced tender offer for the purchase of up to $2.5 billion of shares of its common stock. The offer has a price range of $29.00 to $31.00 per share and could result in a purchase of up to 86,206,896 shares. The tender offer is expected to expire at 5:00 p.m., New York City time, on Tuesday, August 3, 2010.
The tender offer will be conducted via a modified “Dutch auction.” Under this offer, FIS shareholders may tender all or a portion of their common shares within the price range set forth above. Based on the number of shares tendered and the prices specified by the tendering shareholders, FIS will determine the lowest price per share within the range at which FIS can purchase up to $2.5 billion of shares of its common stock, or such lesser number of shares as are properly tendered and not properly withdrawn.
The tender offer will be conducted via a modified “Dutch auction.” Under this offer, FIS shareholders may tender all or a portion of their common shares within the price range set forth above. Based on the number of shares tendered and the prices specified by the tendering shareholders, FIS will determine the lowest price per share within the range at which FIS can purchase up to $2.5 billion of shares of its common stock, or such lesser number of shares as are properly tendered and not properly withdrawn.
Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the offer to purchase and related materials that are being mailed to FIS shareholders.
FIS anticipates obtaining all of the funds necessary to purchase shares tendered in the tender offer through the incurrence of incremental debt in the form of additional term loans and long-term bonds and from borrowings to be made under existing financing facilities of FIS. The tender offer is subject to the completion of financing to fund the tender offer, as well as other customary conditions.
Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated will serve as the dealer managers, Georgeson Inc. will serve as the information agent, and Computershare Trust Company, N.A. will serve as the depositary in the tender offer.
About FIS
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10, as ranked by Bankersalmanac.com in November 2009. FIS is a member of Standard and Poor's (S&P) 500® Index and holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol.
