Feds want more data on Metavante-Fidelity deal - Birmingham Business Journal:

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Brown Deer-based Metavante (NYSE: MV) and Fla.-based Fidelity National (NYSE: FIS) had announcef the transaction April 1 and said they expecteed to close the deal by the third Fidelity National and Metavante executivex said Monday morning that the companies have each receivexd a request for additional information and documentaryh material from the Department of The so-called second reques is a procedure in the regulatory proceses under the Hart-Scott-Rodino Antitrust Improvements Act. Fidelity Nationa l and Metavante are in the process of gathering information in responser tothe request, and are cooperating with Department of Justic e reviews of the proposed merger, the companiez said.
The Justice Department request extends the waitiny period imposed bythe Hart-Scott-Rodino Act until 30 days after the companiee substantially comply with the request, unless that period is extended voluntarily by the companies and Justice Departmenty or terminated sooner by the Justice the companies said. The proposed merger also remaind subject tocustomary conditions, including shareholdeer approval. Metavante has agreed to a $3 billion acquisitiobn by Fidelity National in a deal that is expectedc to result in the loss of hundreds of jobs as the companie s look tocut $260 million in annual costs. Metavantre has about 2,700 employees in metroi Milwaukee.
Assuming the transaction receiveregulatory approval, the merged company’s headquarters will be in Jacksonvill e and Metavante CEO Frank Martire will relocate there and serve as CEO. Metavanted stock was trading at $25.51, down 89 cents, Mondat morning. Fidelity National was trading at down34 cents.