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Another blank check company formed by Fidelity National Financial Inc. Chairman Bill Foley announced a multibillion-dollar deal this week.
Foley Trasimene Acquisition Corp., a company formed to seek an acquisition, is merging with Alight Solutions, a provider of digital human capital and business solutions.
The merged company known as Alight Inc. is valued at $7.3 billion.
This follows the December deal of a different blank check company, Foley Trasimene Acquisition Corp. II, to acquire payment processing company Paysafe Group Holdings Ltd. in a deal valued at $9 billion.
Both deals include investments from subsidiaries of Fidelity and from Cannae Holdings Inc., an investment company spun off from Fidelity.
WeissLaw LLP is investigating whether WPF s board acted in the best interest of WPF s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Alight, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to WPF public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, p
Alight Solutions and
Foley Trasimene Acquisition Corp. (NYSE: WPF)announced entry into a definitive agreement where at close, the combined entity will operate as Alight, Inc. and will list under the symbol ALIT. The transaction reflects a enterprise value for the combined entity of USD 7.3 Billion.
William P. Foley, II, Founder and Chairman of Foley Trasimene, stated, “Our team has worked meticulously evaluating hundreds of potential partners through the second half of 2020, and we are excited to announce this transaction with Alight. Stephan and the leadership team have already positioned Alight as the market leader in employee benefit and business solutions and we believe there is significant opportunity to further transform the business and create value for shareholders. Through our partnership, we will leverage our proven playbook and Alight’s unique position between employees and employers to increase revenue growth and margin expansion. Alight is poised to be the pre