First American prepares for spin off of its financial services group

By Lisa Kerner

Charlotte, N.C., Dec. 14 - First American Corp. filed a form 10 registration statement with the Securities and Exchange Commission as part of the process to separate its financial services businesses from its information solutions businesses.

According to First American, the transaction is expected to close on April 1 and will include the formation of First American Financial Corp.

First American shareholders will receive 100% of the common stock of the newly formed company.

First American is a Santa Ana, Calif., business information company.

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