FINANCE

Takeover Talks: Fidelity National, meanwhile, is nearing a confidentiality agreement that would allow it to look at the books of takeover target US Facilities Corp.

The agreement and a schedule for Fidelity’s review of US Facilities’ books is part of the response to a shareholder vote in May that ordered US Facilities to put the company up for sale.

Fidelity, which launched a $79-million hostile bid for the medical insurance and reinsurance company in April, is appealing a Delaware Chancery Court ruling this summer that overturned the May election of two US Facilities directors nominated by Fidelity.

The Delaware Supreme Court will hear arguments on Fidelity’s appeal Tuesday, and a decision is expected within two months.

Since the takeover was launched, US Facilities has seen its stock rise more than $3 a share to $14.38 a share in May, then sink to a low of $11.50 a share Thursday on the Nasdaq market system. Fidelity saw its stock jump to $17.63 a share in April, fall to $11.13 a share in August and rebound to $12.25 a share at Thursday’s close on the New York Stock Exchange.