Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, July 28, 2014

FleetCor, buyout firms eye $3 bln-plus deal for Comdata -sources, (NASDAQ: CG), (NYSE: FLT), (NYSE: FNF)

FleetCor Technologies Inc and takeover firms including Carlyle Group LP and Silver Lake Partners LP are vying to acquire payments processing company Comdata Inc for more than $3 billion, according to people familiar with the matter. Discussions about a potential sale come after Comdata, owned by Thomas H. Lee Partners LP and Fidelity National Financial Inc , said in April it had confidentially filed for an initial public offering.The sources asked not to be identified because the discussions are private.Thomas H. Lee, FleetCor, Silver Lake and Carlyle declined to comment, while Fidelity National Financial and Comdata did not respond to requests for comment.FleetCor, which has a market capitalization of $11 billion, has grown rapidly through acquisitions since its founding in 2000. It provides fuel cards and workforce payment products and services for businesses, oil companies and governments.

Shares of CG fell by 1.1% or $-0.38/share to $34.09. In the past year, the shares have traded as low as $24.66 and as high as $39.38. On average, 481748 shares of CG exchange hands on a given day and today's volume is recorded at 261081.

FleetCor Technologies, Inc. is an independent global provider of fuel cards and workforce payment products and services to businesses, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America and Europe. Shares of FLT traded higher by 0.42% or $0.55/share to $132.27. In the past year, the shares have traded as low as $88.58 and as high as $134.24. On average, 629130 shares of FLT exchange hands on a given day and today's volume is recorded at 351697.

Fidelity National Financial, Inc. (FNF) is a holding company. Shares of FNF fell by 1.56% or $-0.43/share to $27.22. In the past year, the shares have traded as low as $19.44 and as high as $28.90. On average, 3533510 shares of FNF exchange hands on a given day and today's volume is recorded at 762521.



Source