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Fifth Third cashes in some of its Vantiv holdings

Nov. 21, 2016 5:01 PM ETFifth Third Bancorp (FITB) StockBy: Stephen Alpher, SA News Editor1 Comment
  • Fifth Third (NASDAQ:FITB) is exercising its remaining warrant to receive 5.65M Class C units of Vantiv Holding (VNTV), and it will the exchange those on a one-for-one basis into Class A common stock. Finally Fifth Third will sell 4.8M shares of VNTV in a secondary offering, and Vantiv will repurchase 850K shares.
  • After the above, Fifth Third's voting power will be trimmed to 17.9% from 18.3%.

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