Fidelity National, Metavante merger delayed due to DOJ second request

By Lisa Kerner

Charlotte, N.C., June 22 - The Department of Justice requested additional information from Fidelity National Information Services, Inc. and Metavante Technologies, Inc. regarding the companies' proposed merger announced on April 1.

The companies said they are in the process of responding to the "second request," which effectively extends the Hart-Scott-Rodino waiting period.

Metavante and Fidelity now expect the merger to close during the fourth quarter of 2009.

As previously reported, Fidelity agreed to acquire Metavante in an all-stock transaction valued at approximately $3 billion.

Metavante shareholders will receive a fixed exchange ratio of 1.35 shares of Fidelity common stock for each share of Metavante common stock they own.

Fidelity, located in Jacksonville, Fla., provides core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products.

Milwaukee-based Metavante Technologies is the parent company of Metavante Corp., which delivers banking and payments technologies to financial services firms and businesses.

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