Leucadia Slashes Stake in Fidelity National
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Leucadia National Corp., an investor in financial services, cut its stake in Irvine-based Fidelity National Financial Inc. by more than half--to 4.2% from 8.6%.
New York-based Leucadia, which manages finances for insurance companies and holds investments in other businesses, sold almost 3 million Fidelity National shares for $24.57 to $26.49 each between Nov. 17 and Wednesday, according to a report the investor filed with the Securities and Exchange Commission.
Leucadia now holds about 2.9 million shares in Fidelity, the nation’s largest real estate title insurer, down from 5.8 million shares reported in a filing Nov. 15.
Fidelity National shares, up 89% this year, rose 50 cents to $27.19. Leucadia shares rose 88 cents to $30.63. Both stocks trade on the New York Stock Exchange.
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