The merger agreement between Fidelity National Financial Inc. (FNF) and LandAmerica Financial Group (LFG), previously executed on Nov. 7, has been terminated pursuant to FNF's contractual due diligence termination right, according to the companies. Under the agreement, FNF had sole discretion to terminate on or before Nov. 21.
‘We are disappointed with Fidelity's decision; however, our attention remains focused on strengthening LandAmerica's business and exploring strategic alternatives during these incredibly difficult economic times,’ LFG Chairman and CEO Theodore L. Chandler Jr. said in a press statement.
SOURCES: Fidelity National Financial, LandAmerica Financial Group
