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by CareyBot

One of LandAmerica Financial Group Inc.'s biggest shareholders says the title insurer's larger rivals are interested in acquiring it and that "the likelihood of consummating such a deal is high" if the company were to go along. In a letter urging LandAmerica's board of directors to explore the sale of the company, Viking Global Performance LLC claims the synergies resulting from a merger with a larger competitor could exceed $200 million, doubling earnings per share. Viking is an investment firm that owns nearly 8 percent of LandAmerica's outstanding shares. Viking said it has "generally been pleased with management's execution" in the two years it has been a shareholder. The letter singled out a cost-cutting program, "Project Fusion," and the centralization of LandAmerica's title insuran...