Markel buys, sells shares of LandAmerica Financial for 3.98% ownership interest

By Lisa Kerner

Charlotte, N.C., Nov. 19 - LandAmerica Financial Group, Inc. investor Markel Corp. bought 42,500 shares of the company's stock between Sept. 17 and Nov. 14 at prices from $15.00 to $35.00 each.

The shares were acquired upon the exercise of put options by counterparties.

According to a schedule 13D/A filed with the Securities and Exchange Commission, Markel sold 782,001 shares between Nov. 11 and Nov. 14 priced from $5.25 to $7.88 per share.

Markel beneficially owns 615,099 shares, or 3.98%, of Glen Allen, Va., title insurance underwriter.

On Nov. 7, it was reported that Fidelity National Financial, Inc. agreed to acquire LandAmerica.

Under the companies' definitive merger agreement, LandAmerica shareholders will receive 0.993 shares of Fidelity National common stock for each share of LandAmerica common stock.

Fidelity National is a Jacksonville, Fla., title and specialty insurance company.

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