What happened Shares of FGL Holdings (NYSE: FG) gained more than 19% on Thursday after reports surfaced that Fidelity National Financial (NYSE: FNF) is in talks to acquire the insurance and annuities specialist. So what FGL shares aren't usually in the spotlight, with the stock basically breakeven over a five-year period prior to a late-day surge on Thursday. But the company has apparently gotten the attention of title-insurance specialist Fidelity National. Image source: Getty Images. Reuters reported that Fidelity National is nearing a deal to acquire FGL in an effort to diversify its revenue base. Terms of the deal were unknown, but the report said that if the negotiations are successful, the transaction could be announced in the coming days. Now what Given how little we know, there isn't much for an investor to do other than wait and see. Even after the price spike, FGL trades at 7.8 times forward earnings, so it is possible Fidelity National could be considering paying a price above the current trading price. But it is also possible that the talks will fall through, or that most of the potential gains from a deal are already priced into the stock. Following that large late-day jump, it's best to leave it to speculators to try to guess what comes next for FGL. 10 stocks we like better than FGL HoldingsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and FGL Holdings wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source