LandAmerica Shareholder Liquidates Stake
September 19, 2007
NEW YORK (AP) -- A shareholder of LandAmerica Financial Group Inc. has liquidated its stake in the title insurance company, according to a filing with the Securities and Exchange Commission late Monday.
Viking Global Performance LLC, which claimed a 7.9 percent stake in LandAmerica in June, sold all of its roughly 1.4 million shares as of Sept. 13.
Viking had previously asked the Glen Allen, Va.-based company to retain an investment bank to solicit interest from potential buyers. Viking said the company should consider a sale to further improve value for shareholders.
A LandAmerica representative was not immediately available for comment.
LandAmerica shares jumped $2.13, or 5.8 percent, to $38.98 in morning trading Tuesday. Shares have traded between $36.45 and $108.92 in the past 12 months.