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DENVER—Mercury Cos. Inc., a Denver-based firm that owns title companies, says it is in negotiations to sell its Colorado companies to First American Title.
Mercury’s announcement late Friday comes a day after it announced it was shutting down operations in Arizona, Texas and California. It blamed rising economic pressures and the declining real estate market for the move.
Mercury says its Colorado companies are still profitable and account for about 30 percent of the state’s market. They include Security Title, First American Heritage, Title America and United Title Company.
First American Title is the nation’s second largest title company.
