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FTC sues to stop Fidelity National's pending deal for Stewart

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FTC sues to stop Fidelity National's pending deal for Stewart

The U.S. Federal Trade Commission has filed a lawsuit to block Fidelity National Financial Inc.'s proposed acquisition of Stewart Information Services Corp.

FTC commissioners voted 3-to-1 to give staff the green light to initiate litigation.

Stewart in a statement said it disagrees with the FTC's decision and is "reviewing the lawsuit."

Fidelity National acknowledged the lawsuit in a press release but did not comment on it. The company also did not immediately respond to S&P Global Market Intelligence's request for comment.

In June, Fidelity National extended the date at which the planned merger may be terminated by another three months, marking the last possible extension of the deadline of the deal's completion.