Fidelity National Financial, Inc. Announces the Termination of Definitive Merger Agreement with LandAmerica Financial Group, Inc
November 21 2008 - 8:00PM
PR Newswire (US)
JACKSONVILLE, Fla., Nov. 21 /PRNewswire-FirstCall/ -- Fidelity
National Financial, Inc. (NYSE:FNF) today announced the termination
of its definitive merger agreement with LandAmerica Financial
Group, Inc., pursuant to its contractual due diligence termination
right. Fidelity National Financial, Inc. (NYSE:FNF), is a leading
provider of title insurance, specialty insurance, claims management
services and information services. FNF is one of the nation's
largest title insurance companies through its title insurance
underwriters - Fidelity National Title, Chicago Title, Ticor Title,
Security Union Title and Alamo Title - that issue approximately 27
percent of all title insurance policies in the United States. FNF
also provides flood insurance, personal lines insurance and home
warranty insurance through its specialty insurance business. FNF
also is a leading provider of outsourced claims management services
to large corporate and public sector entities through its
minority-owned subsidiary, Sedgwick CMS. FNF is also a leading
information services company in the human resource, retail and
transportation markets through another minority-owned subsidiary,
Ceridian Corporation. More information about FNF can be found at
http://www.fnf.com/. This press release contains forward-looking
statements that involve a number of risks and uncertainties.
Statements that are not historical facts, including statements
about our beliefs and expectations, are forward-looking statements.
Forward-looking statements are based on management's beliefs, as
well as assumptions made by, and information currently available
to, management. Because such statements are based on expectations
as to future economic performance and are not statements of fact,
actual results may differ materially from those projected. We
undertake no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise.
The risks and uncertainties which forward-looking statements are
subject to include, but are not limited to: changes in general
economic, business and political conditions, including changes in
the financial markets; continued weakness or adverse changes in the
level of real estate activity, which may be caused by, among other
things, high or increasing interest rates, a limited supply of
mortgage funding or a weak U. S. economy; our potential inability
to find suitable acquisition candidates, acquisitions in lines of
business that will not necessarily be limited to our traditional
areas of focus, or difficulties in integrating acquisitions; our
dependence on operating subsidiaries as a source of cash flow;
significant competition that our operating subsidiaries face;
compliance with extensive government regulation of our operating
subsidiaries; and other risks detailed in the "Statement Regarding
Forward-Looking Information," "Risk Factors" and other sections of
the Company's Form 10-K and other filings with the Securities and
Exchange Commission. DATASOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President and
Treasurer, Fidelity National Financial, Inc., +1-904-854-8120, Web
site: http://www.fnf.com/
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