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Fidelity National Financial, Inc. Announces the Termination of Definitive Merger Agreement with LandAmerica Financial Group, Inc.
JACKSONVILLE, Fla., Nov. 21 /PRNewswire-FirstCall/ -- Fidelity NationalFinancial, Inc. (NYSE: FNF) today announced the termination of its definitivemerger agreement with LandAmerica Financial Group, Inc., pursuant to itscontractual due diligence termination right.
Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider oftitle insurance, specialty insurance, claims management services andinformation services. FNF is one of the nation's largest title insurancecompanies through its title insurance underwriters - Fidelity National Title,Chicago Title, Ticor Title, Security Union Title and Alamo Title - that issueapproximately 27 percent of all title insurance policies in the United States.FNF also provides flood insurance, personal lines insurance and home warrantyinsurance through its specialty insurance business. FNF also is a leadingprovider of outsourced claims management services to large corporate andpublic 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 www.fnf.com.
This press release contains forward-looking statements that involve anumber of risks and uncertainties. Statements that are not historical facts,including statements about our beliefs and expectations, are forward-lookingstatements. Forward-looking statements are based on management's beliefs, aswell as assumptions made by, and information currently available to,management. Because such statements are based on expectations as to futureeconomic performance and are not statements of fact, actual results may differmaterially from those projected. We undertake no obligation to update anyforward-looking statements, whether as a result of new information, futureevents or otherwise. The risks and uncertainties which forward-lookingstatements are subject to include, but are not limited to: changes in generaleconomic, business and political conditions, including changes in thefinancial markets; continued weakness or adverse changes in the level of realestate activity, which may be caused by, among other things, high orincreasing 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 ourtraditional areas of focus, or difficulties in integrating acquisitions; ourdependence on operating subsidiaries as a source of cash flow; significantcompetition that our operating subsidiaries face; compliance with extensivegovernment regulation of our operating subsidiaries; and other risks detailedin the "Statement Regarding Forward-Looking Information," "Risk Factors" andother sections of the Company's Form 10-K and other filings with theSecurities and Exchange Commission.
SOURCE Fidelity National Financial, Inc.
This press release contains forward-looking statements that involve anumber of risks and uncertainties. Statements that are not historical facts,including statements about our beliefs and expectations, are forward-lookingstatements. Forward-looking statements are based on management's beliefs, aswell as assumptions made by, and information currently available to,management. Because such statements are based on expectations as to futureeconomic performance and are not statements of fact, actual results may differmaterially from those projected. We undertake no obligation to update anyforward-looking statements, whether as a result of new information, futureevents or otherwise. The risks and uncertainties which forward-lookingstatements are subject to include, but are not limited to: changes in generaleconomic, business and political conditions, including changes in thefinancial markets; continued weakness or adverse changes in the level of realestate activity, which may be caused by, among other things, high orincreasing 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 ourtraditional areas of focus, or difficulties in integrating acquisitions; ourdependence on operating subsidiaries as a source of cash flow; significantcompetition that our operating subsidiaries face; compliance with extensivegovernment regulation of our operating subsidiaries; and other risks detailedin the "Statement Regarding Forward-Looking Information," "Risk Factors" andother sections of the Company's Form 10-K and other filings with theSecurities and Exchange Commission.
SOURCE Fidelity National Financial, Inc.
For more iinformation, go to www.prnewswire.com
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