March 19, 2018 / 12:28 PM / in a month

Fidelity to buy insurer Stewart in $1.2 bln deal

March 19 (Reuters) - Financial services company Fidelity National Financial Inc said on Monday it would buy insurer Stewart Information Services Corp in a deal valued at $1.2 billion.

Fidelity’s offer of $50 per share represents a 23 percent premium to Stewart’s closing stock price on March 16.

Stewart’s provides residential and commercial title insurance and appraisal and valuation services to the real estate industry. (Reporting by Diptendu Lahiri in Bengaluru Editing by Saumyadeb Chakrabarty)

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