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Fidelity National Information financing for EFD purchase to include $1.6 billion term loan
By Sara Rosenberg
New York, June 29 - Fidelity National Information Services, Inc. revealed that its debt financing plans for the acquisition of EFD/eFunds Corp. will include a new $1.6 billion term loan, according to an 8-K filed with the Securities and Exchange Commission.
JPMorgan and Bank of America are the lead banks on the deal.
The term loan is due in 2014.
Under the agreement, EFD shareholders will receive $36.50 in cash per share. The all-cash transaction is valued at $1.8 billion.
The transaction is expected to be completed by the end of the third quarter, subject to certain regulatory approvals, approval by EFD shareholders and customary closing conditions.
Fidelity National is a Jacksonville, Fla.-based provider of technology to the financial services and real estate industries. EFD is a Scottsdale, Ariz., provider of risk management, electronic payments and global outsourcing services.
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