Fidelity National shareholders approve tracking stock

Fidelity National Financial Ventures (FNFV) will track the performance of Fidelity National Financial's (FNF +1.9%) portfolio company investments.

At the time of closing (expected June 30), each share of FNF common will be converted into one share of FNF Group common stock and 0.3333 shares of FNFV Group common stock.

Activist investor Corvex Management should be pleased, having pushed for a way to realize more value from non-core businesses owned by Fidelity.

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