Fidelity National Financial will buy insurer Stewart Information Services for $1.2 billion in a bid to strengthen its title insurance business, the company announced Monday. The deal prices Stewart International’s stock at $50 per share. Fidelity will pay half of that in cash and the rest in stock and debt financing. The companies expect the deal to close in the first or second quarter of 2019. “We are excited to welcome Stewart, its employees and its customers to the FNF family,” Fidelity Chairman William P. Foley, II said in a statement. “The venerable Stewart brand has a long and respected history in the title insurance industry and we see tremendous potential in working with the Stewart management team to invest in and grow the Stewart brand on a national basis as part of our long-time, successful strategy of operating multiple title insurance brands under the FNF umbrella.” The acquisition will strengthen Fidelity’s presence in both residential and commercial title insura…
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