hollycow what next. would FNF sell out to its bigger competitor? rumor mill Foley ready to retire and will sell FNF at the right price probably between $18 to $25. FAF has the financing probablhy will happen
Foley has more money than he knows what to do with and wouldn't sell his 'bread and butter' when he can use the cash flow to buy and sell smaller, non-related entities left and right. Village Inn? Why not.
He won't sell FNF and FAF wouldn't know what to do with FNF anyway. FAF would feel obligated to double the personnel and ruin any operating metrics (i.e. Profitablility) becuase they don't understand how FNF can do what it does with as few people as they do it.
Plain and Simple. Nice try though to use the 'acquisition' rumor to raise the interest (and stock price). Wait for 2nd Qtr results next week. They should be impressive by themself.
Who in their right mind would think that this totally fabricated rumor would ever pass anti-trust? 90%+ market share??? Sorry but this is just laughable.
Look for Q2 earnings to be solid but disappouint on what the street really wanted (please notice timing of stcok repurchase announcement - why do this right before earnings unless earnings were a little on the light side)....stock will take a little sep backwards.
There very well may be suiters but FAF would face anti-trust issues IMHO
The FNF model will be a good one. I love this story knock out a major competitor in the worst RE market in memory. Set yourself up as the # 1 tittle insurer. The RE market activity will recover and homes will sell again, maybe not at Bubble prices but the prices will stop falling and people will move, get divorced and die. Tons of RE transactions are in a holding pattern until activity resumes and activity build activity.
I am concerned about the technicals and where PPS support is going to come from.