<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 1, 1996
FIDELITY NATIONAL FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-9396 86--567065
-------- ------ ----------
(State or other jurisdiction (Commission (IRS Employer Identification
of incorporation) File Number) Number)
17911 Von Karman Avenue, Irvine, California 92714
(Address of principal executive offices)
(714) 622-5000
(Registrant's telephone number, including area code)
<PAGE> 2
Item 5. Other Events
On September 14, 1995, Fidelity National Financial, Inc. ("FNFI") entered
into an agreement with Nations Holding Group, a California corporation, to
acquire Nations Title, Inc. and certain of its wholly-owned subsidiaries,
Nations Title Insurance Company, Nations Title Insurance of New York, Inc. and
National Title Insurance of New York, Inc. On April 1, 1996, the acquisition
closed. FNFI paid $19.3 million in cash and 176,000 shares of FNFI common
stock.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release - April 2, 1996 - FNFI/Nations Title, Inc. closing
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIDELITY NATIONAL FINANCIAL, INC.
Dated: April 9, 1996 /s/ CARL A. STRUNK
---------------------------------
Carl A. Strunk
Executive Vice President
Chief Financial Officer
Treasurer
<PAGE> 4
EXHIBIT INDEX
99 Press Release - April 2, 1996 - FNFI/Nations Title, Inc. closing
<PAGE> 1
EXHIBIT 99
[FIDELITY NATIONAL FINANCIAL, INC. LETTERHEAD]
NEWS RELEASE
- --------------------------------------------------------------------------------
Contacts: Frank P. Willey
President
Andrew F. Puzder
Executive Vice President
(714) 622-5000
FOR IMMEDIATE RELEASE
- ---------------------
FIDELITY NATIONAL FINANCIAL, INC. ACQUIRES NATIONS TITLE, INC.
--------------------------------------------------------------
Irvine, Calif., April 2, 1996 -- Fidelity National Financial, Inc.
(NYSE:FNF), today announced the closing of its acquisition of Nations Title,
Inc. With this acquisition Fidelity National Financial, Inc. firmly positions
itself as the nation's fourth largest title insurance underwriter.
Nations Title, Inc. and its three wholly owned underwriters including
Nations Title Insurance Company, a Kansas corporation, Nations Title Insurance
of New York, Inc. and National Title Insurance Company of New York, Inc., both
New York corporations, will substantially expand Fidelity's national agency
network and increase market share in the more traditional agency driven states.
Under the terms of the Agreement, Fidelity National Financial, Inc.
acquired one hundred percent of the outstanding stock of Nations Title, Inc.
for an adjusted purchase price of $19.3 million plus 176,000 shares of Fidelity
National Financial, Inc.'s common stock. Nations Title Inc.'s unaudited
consolidated net worth at March 31, 1996 is estimated at $27.5 million.
William P. Foley, II, Chairman of the Board and Chief Executive
Officer, said, "The combination of our established direct
-more-
<PAGE> 2
FIDELITY NATIONAL FINANCIAL, INC. ACQUIRES NATIONS TITLE, INC.
- --------------------------------------------------------------
Page 2-2-2-2
operations and Nations' strong agency network will provide a balance to
Fidelity's title premium revenue as well as hedge against future market
downturns. The addition of Nations' revenue stream, which was reported at $231
million in 1995, should translate into increased profits and shareholder value
due to our ability to increase operating efficiencies through assimilation and
economies of scale."
Frank P. Willey, President of Fidelity, stated, "The acquisition of
Nations' exclusive agency network nearly doubles our existing agency base and
fortifies Fidelity's position in the agency driven eastern and midwestern
markets."
Headquartered in Irvine, California, Fidelity National Financial, Inc.
is one of the largest national underwriters engaged in the business of issuing
title insurance and performing other title-related services in 49 states, the
District of Columbia, Puerto Rico, the Bahamas and the Virgin Islands through
its principal underwriting subsidiaries: Fidelity National Title Insurance
Company, Fidelity National Title Insurance Company of California, Fidelity
National Title Insurance Company of New York, Fidelity National Title Insurance
Company of Pennsylvania, Fidelity National Title Insurance Company of Tennessee
and American Title Insurance Company.
###
