No longer a shareholder but previously the restaurant sub was focusing on 'distressed' scenarios that didn't involve a large investment and offered the potential of huge returns. This deal is really raising the stakes. Years ago they went down this road and it didn't go very well and eventually just divested everything. Tough industry where costs are increasing and it's difficult to raise prices. I guess if I were a shareholder I would ask Bill Foley that if he wants to run a restaurant company why doesn't he start one and not involve FNF which is in a totally different industry?
This is a classic case demonstrating a complete lack of corporate accountability. Foley and the Board (which obviously is in his hip pocket) show complete disdain for the FNF shareholders. This stock should be sold and sold mercilessly by every concerned shareholder.