Fidelity calls off LandAmerica merger
LandAmerica's future in doubt
By Inman News, Friday, November 21, 2008.

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Fidelity National Financial Inc. has called off its plan to acquire troubled rival LandAmerica Financial Group Inc., the companies said Friday, a development that casts doubt on LandAmerica's long-term prospects.
Fidelity and LandAmerica both issued terse statements at 8 p.m. Eastern Time Friday saying Fidelity had exercised its right to back out of the deal during a due diligence period.
LandAmerica lost $599.6 million during the third quarter and was in danger of defaulting on its debts, the company said in a recent regulatory filing.
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