FTC Challenges Fidelity's $1.2B Title Insurance Deal

By Bryan Koenig (September 6, 2019, 7:32 PM EDT) -- The Federal Trade Commission filed an in-house complaint Friday aimed at stopping title insurance giant Fidelity National Financial Inc.'s planned $1.2 billion purchase of real estate services provider Stewart Information Services Corp., a deal the agency warned would combine two of the country's four largest title insurance underwriters.

According to the FTC, the commissioners voted 3-1, with Chairman Joseph J. Simons recused, to approve an administrative complaint alleging that the tie-up would negatively impact competition for large commercial transaction title insurance underwriting in state markets, along with title information services in several local markets.

"The complaint alleges that the proposed acquisition...

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