IMO: This is a real "foot-stopper" in the door closing (cancelling) on LandAmerica's stock...
"The amended terms will reduce the total purchase price for Commonwealth and Lawyers to approximately $235 million. Chicago Title Insurance Company ("Chicago Title") and Fidelity National Title Insurance Company ("Fidelity National Title") will pay a total of approximately $135 million in cash to LFG. Additionally, FNF will pay LFG a total consideration of approximately $100 million consisting of a $50 million subordinated note due in 2013, with interest at the 5-year treasury rate at closing plus 1 percent, and approximately $50 million in FNF common stock."
This does not include the other assets; therefore, Earnie tells me that he remains solid with the over $50/share. I am skeptical with Earnie's call and will remain cautious with the range of $40.000 to $49.999 for now...
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.