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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!