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LandAmerica Left for Dead

By Dave Wirsching & Francine D'Elia Wirsching

After a merger agreement that pointed out the dire situation of LandAmerica, Fidelity ends their shotgun wedding, leaving an all-too publicly wounded LandAmerica to fend for itself.

Fidelity National Financial, Inc. Announces the Termination of Definitive Merger Agreement with LandAmerica Financial Group, Inc. - MarketWatch

FNF today announced the termination of its definitive merger agreement with LandAmerica Financial Group, Inc., pursuant to its contractual due diligence termination right.

If another solution doesn't present itself in the near term, we will get to witness what happens when a large underwriter becomes insolvent. It won't be good for the industry or the policy holders.

Posted from Diigo. The rest of my favorite links are here.

Full post as published by Clearing Title on November 22, 2008 (boomark / email).