Fidelity National ends acquisition of LandAmerica

New York, Nov. 21 - Fidelity National Financial, Inc. said it has terminated its proposed acquisition of LandAmerica Financial Group, Inc.

The Jacksonville, Fla.-based title and specialty insurance company said it was exercising its contractual due diligence termination right.

No further explanation was given.

The deal was announced on Nov. 7 and as proposed LandAmerica shareholders would have received 0.993 shares of Fidelity National common stock for each share of LandAmerica common stock.

At the time LandAmerica said that due to the credit freeze and depressed real estate market had negatively impacted its business to the point where it was "increasingly difficult for LandAmerica to remain an independent public company."

LandAmerica is a title insurance underwriter based in Glen Allen, Va.

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