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REAL ESTATE
February 15, 1998
Average number of homes looked at by buyers in 1997. Los Angeles County: 14.5 Orange County: 18.8 Source: "Who's Buying Homes in America," Chicago Title & Trust Co.
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BUSINESS
March 23, 2000 | EDMUND SANDERS, TIMES STAFF WRITER
Wasting no time after closing its $1.1-billion merger earlier this week, Fidelity National Financial Inc. said Wednesday that it plans to slash about 1,500 jobs nationwide--including as many as 100 in Southern California--over the next 12 months as it consolidates operations with former rival Chicago Title Corp. The Irvine company, which is now the nation's No.
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BUSINESS
December 18, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
Crippled by a souring real estate market, a failed subsidiary and staggering debts, Westwood Equities Corp., the parent of Ticor Title Insurance Co., said Monday that it has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. The company, which listed $151.4 million in debts and only $144 million in assets, said it would ask a Los Angeles bankruptcy judge to allow the $70-million sale of Ticor to Chicago Title & Trust Co. to go through as planned.
BUSINESS
March 21, 2000 | From Times Staff and Wire Reports
Fidelity National Financial Inc. on Monday completed its $1.1-billion acquisition of Chicago Title Corp., creating the nation's largest title insurer. Irvine-based Fidelity paid $26 cash and 1.7673 shares to acquire each share of Chicago Title stock. Fidelity National said Chicago Title will continue to operate under its own name. The deal gives Fidelity more than 1,000 offices and 7,000 agents. Fidelity Chairman William P. Foley II said the combined company has a 30% share of the U.S.
BUSINESS
November 26, 1996 | BARBARA MURPHY
Chicago Title Co. has made several changes in its Ventura County operations. Michael Bossard, a 33-year title industry professional, has been named company vice president and Ventura County Market Center manager. Sheila Wright has been appointed Ventura sales representative, Elizabeth Puliti has been named a title and escrow sales representative in the Camarillo area, and Jeanie Mack has been appointed sales representative in the Ojai, Santa Paula and Fillmore areas.
BUSINESS
August 2, 1999 | RUSS STANTON, ORANGE COUNTY BUSINESS EDITOR
Fidelity National Financial Inc. said Sunday that it reached an agreement to acquire Chicago Title Co. for $1.2 billion in cash and stock, creating a new kingpin in the nation's $8-billion title insurance industry. The combined companies, which would retain Fidelity's name and Irvine headquarters, would have more than $3.2 billion in annual revenue, nearly 1,000 offices nationwide and a 30% share of the title market.
BUSINESS
February 10, 2000
Shareholders of Irvine-based Fidelity National Financial Inc. approved the company's merger with Chicago Title Corp. Chicago Title shareholders will meet Friday to vote on the deal, which would create the largest title insurance company. The companies hope to close the deal by the end of March. Last month, the Federal Trade Commission approved Fidelity National's proposed acquisition of Chicago Title, provided the companies agree to make some divestitures.
BUSINESS
July 31, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
Acquisition talks between Irvine-based Fidelity National Financial Inc. and its larger rival, Chicago Title Corp., got a mixed reception from Wall Street on Friday, with some analysts expressing reservations about the deal. Shares in Chicago Title surged nearly 17% to close at $42.75 Friday in heavy trading on the New York Stock Exchange, but questions and skepticism about the proposed deal kept the share price well below the $57-to-$64 range that analysts predicted Chicago Title would fetch.
BUSINESS
March 23, 2000 | EDMUND SANDERS, TIMES STAFF WRITER
Wasting no time after closing its $1.1-billion merger earlier this week, Fidelity National Financial Inc. said Wednesday that it plans to slash about 1,500 jobs nationwide--including as many as 100 in Southern California--over the next 12 months as it consolidates operations with former rival Chicago Title Corp. The Irvine company, which is now the nation's No.
BUSINESS
March 11, 2000 | Bloomberg News
Fidelity National Financial Inc. said Friday that the California Department of Insurance approved its purchase of Chicago Title Corp., a combination that would create the largest U.S. insurer of property titles. Fidelity said it is still awaiting approval from the Oregon Department of Insurance. Once that is received, all required regulatory approvals will have been received, Irvine-based Fidelity said. The purchase is expected to close mid-month. Fidelity's stock fell 50 cents a share to $15.
BUSINESS
March 21, 2000 | Times Staff and Wire Reports
Fidelity National Financial Inc. completed its $1.1-billion acquisition of Chicago Title Corp., creating the nation's largest title insurer. Under the terms of the acquisition, Irvine-based Fidelity paid $26 cash and 1.7673 shares to acquire each share of Chicago Title stock. Fidelity National said Chicago Title will continue to operate under its own name. The deal gives Fidelity more than 1,000 offices and 7,000 agents. Fidelity Chairman William P.
BUSINESS
March 17, 2000 | Edmund Sanders
Chicago Title Corp. said late Thursday it has agreed to accept a slightly lower price for its acquisition by Fidelity National Financial Inc., an Irvine title insurance company. The deal, which would create the nation's largest title insurer, is expected to close Monday. Because Fidelity's stock price has fallen since the merger was announced last year, the value of the cash-and-stock deal dropped from about $52 a share to $49.29 a share, reducing the total price from about $1.
BUSINESS
March 11, 2000 | Bloomberg News
Fidelity National Financial Inc. said Friday that the California Department of Insurance approved its purchase of Chicago Title Corp., a combination that would create the largest U.S. insurer of property titles. Fidelity said it is still awaiting approval from the Oregon Department of Insurance. Once that is received, all required regulatory approvals will have been received, Irvine-based Fidelity said. The purchase is expected to close mid-month. Fidelity's stock fell 50 cents a share to $15.
BUSINESS
March 1, 2000 | Edmund Sanders
Title insurance giants Fidelity National Financial Inc. in Irvine and Chicago Title Corp. in Chicago said their merger won't close today as planned, but officials stressed that the deal remains on track and only awaits approval from insurance regulators in California and Oregon. Chicago officials said the approvals are expected shortly.
BUSINESS
February 12, 2000 | Dow Jones
Chicago Title Corp. said its stockholders on Friday approved its proposed stock-and-cash acquisition by Fidelity National Financial Inc., whose stockholders had approved the deal two days earlier. Chicago Title, based in Chicago, said in a press release that the companies now expect the transaction, originally valued at $1.2 billion, to close March 1. The combination will create the nation's largest title insurance underwriter.
BUSINESS
February 10, 2000
Shareholders of Irvine-based Fidelity National Financial Inc. approved the company's merger with Chicago Title Corp. Chicago Title shareholders will meet Friday to vote on the deal, which would create the largest title insurance company. The companies hope to close the deal by the end of March. Last month, the Federal Trade Commission approved Fidelity National's proposed acquisition of Chicago Title, provided the companies agree to make some divestitures.
BUSINESS
August 19, 1999 | EDMUND SANDERS, Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com
As Fidelity National Financial Chairman Bill Foley works to close one of his biggest deals--the $1.2-billion acquisition of Chicago Title Corp.--he is also struggling to salvage one of his worst: the 1998 purchase of Granite Financial Inc. Foley bought the Golden, Colo.-based equipment leasing company last year as part of a plan to diversify into businesses that are not interest rate-sensitive. But instead of boosting earnings, Granite has been a drag on Irvine-based Fidelity.
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