Waiting Period Expires On LandAmerica Subsidiary Sale

Fidelity National Financial Inc. (FNF) has reported the expiration of the waiting period under the Hart Scott Rodino Act related to its acquisition of LandAmerica Financial Group Inc.'s (LFG) two principal title insurance underwriters, Commonwealth Land Title Insurance Co. and Lawyers Title Insurance Corp.

Stewart Title Guaranty Co., meanwhile, says it is no longer seeking to acquire Commonwealth and Lawyers, as the Federal Bankruptcy Court of the Eastern District of Virginia last week approved FNF's offer. The court did not consider Stewart's offer.

FNF's purchase of the two underwriters remains subject to the satisfaction of certain other closing conditions, including obtaining a final approval order removing Commonwealth and Lawyers from rehabilitation and the closing of the transaction on or before December 22.

SOURCES: Fidelity, Stewart

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