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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Stewart Information Services Corporation (NYSE: STC) to Fidelity National Financial, Inc. (NYSE: FNF). Under the terms of the transaction, Stewart shareholders will receive $25.00 in cash and 0.6425 common shares of Fidelity stock for each share of Stewart stock they own. Based on the closing price of Fidelity stock on March 16, 2018, this represents a value of approximately $50.20 per share.
The investigation concerns whether the Board of Stewart breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Fidelity National Financial, Inc. is underpaying for Stewart shares, thus unlawfully harming Stewart shareholders.
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