CHICAGO, Feb. 11 /PRNewswire/ -- Chicago Title Corporation (NYSE: CTZ)
today announced that its stockholders approved the proposed merger of Chicago
Title with Fidelity National Financial, Inc. (NYSE: FNF) at a special meeting
of its stockholders held today. Fidelity's stockholders approved the merger
on February 9, 2000.
John Rau, Chicago Title's president and chief executive officer, stated,
"We are pleased that our shareholders have confirmed the many benefits of the
merger of Chicago Title with Fidelity. This represents an important step in
moving the transaction to completion." Stockholders were previously advised,
in forms they received for their election of consideration to be received in
the merger, that completion of the merger was expected to occur on or about,
but no earlier than, February 28, 2000. The parties now anticipate that the
merger will be completed on March 1, 2000, subject to the receipt of all
necessary regulatory approvals and the satisfaction of other conditions.
Chicago Title Corporation, through its subsidiaries, provides title
insurance, escrow and closing services as well as property valuation, credit
information, default management and flood compliance products through a
network of more than 340 offices and approximately 4,100 agents nationwide.
Chicago Title Corporation's title insurance subsidiaries, Chicago Title
Insurance Co., Ticor Title Insurance Co. and Security Union Title Insurance
Co., issue approximately one in every five title insurance policies in the
United States. Subsidiaries furnishing other real estate-related products
include Chicago Title Flood Services Inc., Chicago Title Credit Services Inc.,
Chicago Title-Market Intelligence Inc. and Chicago Title Field Services Inc.
The statements made in this press release contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934 that involve a number of
uncertainties and risks that could significantly affect current plans and
anticipated actions and Chicago Title's future financial condition and
results. In addition to the matters described in this press release, risk
factors listed from time to time in Chicago Title's reports and filings with
the Securities and Exchange Commission may affect the results achieved by
Chicago Title.
Investors are urged to read the Registration Statement on Form S-4 filed
by Fidelity, which relates to the shares of Fidelity common stock to be issued
in the merger and includes the joint proxy statement/prospectus of the parties
in respect of the merger. The Registration Statement (and other filings of
the parties incorporated by reference therein) are available for free at the
Securities and Exchange Commission's web site ( http://www.sec.gov ). Investors also
may obtain copies of the joint proxy statement/prospectus and Chicago Title
SEC filings for free from Chicago Title.
For more information on Chicago Title Corporation via fax, free of charge,
dial 1-800-PRO-INFO and enter the ticker "CTZ"
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Media, Bill Scott, 312-223-5030, or Analysts,
Toshie Davis, 312-223-4788, both of Chicago Title Corporation
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