Fidelity Reinstates Its Hostile Bid for Costa Mesa's US Facilities

The nation's fifth-largest title insurer said Wednesday that it has "reiterated" its $79-million offer to acquire a Costa Mesa insurance company.

Fidelity National Financial Inc. said that its $15-a-share offer was being reinstated after continuing questions about the offer from the target of the hostile takeover bid, US Facilities Corp.

Meantime, Fidelity continues to seek shareholder votes in an effort to pass a resolution at the May 25 annual meeting of US Facilities to put the Costa Mesa medical stop-loss, property and casualty insurer up for sale. Fidelity also is seeking votes to elect two of its nominees to the board of US Facilities.

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