Lender Processing Services (LPS) is the subject of acquisition talks with Fidelity National...


Lender Processing Services (LPS) is the subject of acquisition talks with Fidelity National (FNF) and buyout shop Thomas H. Lee, with a price tag of about $2.9B, the WSJ reports. Fidelity National was LPS' parent until a 2008 spinoff; a deal would not only bring the service provider back into FNF's umbrella, but mark the latest of many deals Fidelity's made with Thomas H. Lee. The deal values LPS at about $33/share; it closed Wednesday at $29.11.

Comments (3)
  • NoOneinJax
    , contributor
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    There is so MUCH dead wood at LPS (and I imagine at Fidelity also). Meanwhile, the top 5 paid employees at LPS are paid handsomely (CEO makes 9 million per year). Employees at LPS were told NO raises, NO 401K match and NO matches to Employee Stock Purchase Plan. Then we receive e-mails telling us we are hitting it out of the park. Not sure who is hitting it out of the park, other than the CEO and his top 4 subordinates.
    22 May 2013, 08:48 PM Reply Like
  • titleguytx
    , contributor
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    Seems like a very strange possibility given the history of the companies. I do not think ServiceLink would be particularly excited about this, although they would run them separately as they did before. It would be nothing short of a monopoly in the REO space.

     

    Certainly a confirmation that Foley is a deal junky.
    23 May 2013, 07:26 AM Reply Like
  • NoOneinJax
    , contributor
    Comments (3) | Send Message
     
    CEO - $9 Million in compensation
    Next 4 subordinate VP's - $17 million in compensation
    Board of Directors (non-employees) - $1.8 in compensation

     

    At the end of the day, LPS is a technology company, and the above folks are knocking the ball OUT OF THE PARK!

     

    Oh, by the way, don't forget that, at this time, they cannot match employee's 401K contributions, cannot provide raises and cannot match employee stock purchase plan contributions. I guess $27.8 million can only go so far....................
    23 May 2013, 04:48 PM Reply Like
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