Fireman’s Fund Corp. will purchase 8.5 million...

Fireman’s Fund Corp. will purchase 8.5 million shares of its stock from American Express Co. for $200 million plus 3 million shares of American Express stock. Based on American Express’ closing stock price of $30 a share Monday, the agreement would be worth about $290 million. New York-based Fireman’s Fund also has an option to purchase an additional 4.5 million of its shares from American Express for $162 million, the companies said. American Express once owned 100% of Fireman’s Fund shares.