M&A - FIDELITY FINANCIAL TRUST
Form Type: 485BPOS
Filing Date: 2025-03-24
Corporate Action: Merger
Type: Update
Accession Number: 000113322825003008
Filing Summary: On March 24, 2025, Fidelity Financial Trust filed a registration statement for the Reorganization of Fidelity Advisor® Equity Income Fund into Fidelity® Equity Dividend Income Fund. This merger will take place on June 6, 2025, when all assets of Fidelity Advisor® Equity Income Fund will be transferred to Fidelity® Equity Dividend Income Fund in exchange for corresponding shares. This is seen as beneficial for shareholders as it allows them to continue their investment under similar objectives but in a larger fund with potentially lower expenses. The Reorganization does not require shareholder approval due to regulatory rules, and shareholders will automatically receive shares in the new fund. The total value of their holdings will remain unchanged post-merger, and it is structured as a tax-free reorganization.
Document Link: View Document
Additional details:
Agreement And Plan Of Reorganization: Approved by the Board of Trustees, allowing for complete liquidation of the Fidelity Advisor® Equity Income Fund.
Closing Date: June 6, 2025
Funds Involved: Fidelity Advisor® Equity Income Fund and Fidelity® Equity Dividend Income Fund
Shareholder Action Required: None, transaction does not require a proxy.
Liabilities Assumed: Fidelity® Equity Dividend Income Fund will assume the liabilities of Fidelity Advisor® Equity Income Fund.
Investment Objective: Both funds seek yield from dividend income exceeding the S&P 500 Index.
Classes Of Shares: Holders of Class A, M, C, I, and Z shares will receive equivalent classes in the Fidelity® Equity Dividend Income Fund.
Management Fee Structure: Fidelity® Equity Dividend Income Fund's management fee structure will be retained post-reorganization.
Form Type: N-14
Filing Date: 2025-02-07
Corporate Action: Merger
Type: New
Accession Number: 000113322825001014
Filing Summary: The document outlines the planned Reorganization of Fidelity Advisor® Equity Income Fund into Fidelity® Equity Dividend Income Fund, approved by the Board of Trustees. The Reorganization involves the transfer of all assets from Fidelity Advisor® Equity Income Fund to Fidelity® Equity Dividend Income Fund in exchange for shares of the latter, occurring on June 6, 2025. This process is aimed at benefiting shareholders by providing a larger fund with lower expenses and maintaining the same investment strategies. Shareholder approval is not required due to regulatory provisions. The funds will maintain similar investment objectives, focusing on dividend income. Post-Reorganization, shareholders will automatically receive corresponding shares in the new fund. Other relevant details include potential tax implications, management capabilities, and class-specific arrangements for share distribution. The document emphasizes that the total value of shareholders' holdings will remain unchanged post-Reorganization.
Document Link: View Document
Additional details:
Agreement Plan: Agreement and Plan of Reorganization
Reorganization Date: 2025-06-06
Shareholder Impact: Shareholders of Fidelity Advisor® Equity Income Fund will automatically transition to Fidelity® Equity Dividend Income Fund
Tax Free Reorganization: Expected to qualify as a tax-free reorganization
Management Fees: Lower management fee rates with expenses decreasing by 1 to 3 basis points
Form Type: N-14
Filing Date: 2025-01-10
Corporate Action: Merger
Type: New
Accession Number: 000113322825000350
Filing Summary: Fidelity Financial Trust filed a registration statement on Form N-14 concerning the reorganization of Fidelity Advisor® Equity Income Fund into Fidelity® Equity Dividend Income Fund. The Board of Trustees approved the Agreement and Plan of Reorganization to transfer all assets from Fidelity Advisor® Equity Income Fund to Fidelity® Equity Dividend Income Fund, in exchange for shares of the latter. This action reflects the goal of enabling shareholders to pursue the same investment objectives and strategies within a larger fund with lower expenses. The reorganization is expected to qualify as a tax-free transaction. Shareholders will automatically receive shares of Fidelity® Equity Dividend Income Fund as of the closing date on March 28, 2025, with no need for shareholder approval due to the regulatory rule under the Investment Company Act of 1940. The total value of shareholders’ holdings will not be affected by the reorganization, but they may redeem their shares before the set closing date if they do not wish to participate. The document highlights various procedural and tax-related aspects of the reorganization, confirming that such transfers will not result in taxable events for federal income tax purposes.
Document Link: View Document
Additional details:
Cik: 811-03587
Proposed Public Offering Date: As soon as practicable after the Registration Statement becomes effective
Date Of Reorganization: 2025-03-28
Board Approval: Yes
Shareholder Impact: Each shareholder of Fidelity Advisor® Equity Income Fund will automatically become a shareholder of Fidelity® Equity Dividend Income Fund.
Management Fee Structure: Fidelity® Equity Dividend Income Fund's structure will remain as previously established with an expectation of lower expenses.
Tax Free Reorganization: Expected to qualify as a tax-free reorganization for federal income tax purposes.
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