In a surprising move being met by positive reaction from analysts, Fidelity National Financial announced that it would move to allow Black Knight Financial Services and FNFV Group to operate as fully independent companies.
The plan would have Fidelity distribute all 83.3 million shares of its stock in Black Knight – amounting to about a 54 percent share in the company – to shareholders of FNF Group and strip Fidelity of its controlling interest in Black Knight.
What’s behind the move, and why have analysts cheered the plan? Read on for the details.