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The First American Corporation Commences Exchange Offer for Publicly Held Shares of First Advantage Corporation.

Article Excerpt
- Exchange Ratio of 0.58 First American Shares for Each Share of First Advantage -

SANTA ANA, Calif., Oct. 9 /PRNewswire-FirstCall/ -- The First American Corporation , America's largest provider of business information, today announced that it has commenced an exchange offer for all publicly held shares of the common stock of its subsidiary, First Advantage Corporation . The exchange offer will expire at 5 p.m. on Tuesday, Nov. 10, 2009, unless extended. As previously announced, under the terms of the exchange offer, First American is offering 0.58 of a First American common share for each share of First Advantage common stock tendered in the exchange offer and accepted for purchase by First American. Based on First American's closing stock price on Oct. 8, 2009, the exchange ratio represents an offer price of $18.37 per share and a 44 percent premium to First Advantage's closing stock price on June 26, 2009, the last trading day prior to the announcement by First American of its intention to acquire First Advantage. First American...

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