Dec. 30, 2013, 10:25 AM
- The exchange ratio of 0.28742 is based on the average Fidelity National (FNF) price of $31.459 over the past ten sessions. At that level, total consideration to Lender Processing Services (LPS) shareholders will be $37.14 per share - $28.10 in cash and $9.04 in FNF common stock.
- Fidelity's shares are currently at $32.59.
- Closing is scheduled for January 2.
Dec. 24, 2013, 12:17 PM
- The proposed settlement has Fidelity National Financial (FNF +2.5%) agreeing to sell title plant assets in six Oregon counties and an ownership interest in LPS' (LPS +1.2%) share of a jointly owned plant in the Portland area. Title plants are the databases used by abstractors, title insurers, and title insurance agents to determine the title status of real property.
- Fidelity announced the agreement to purchase LPS in late May in a $2.9B deal.
Jul. 8, 2013, 10:26 AM
Jun. 20, 2013, 8:52 AM
Fidelity National Financial (FNF) adjusts the mix in its $2.9B acquisition of Lender Processing Services (LPS) increasing the cash component by $500M and reducing the stock component by the same. After the change, about two-thirds of the purchase is being made with cash. LPS' "go-shop" period remains until July 7 (break-up fee of 1.25%). (PR)| Jun. 20, 2013, 8:52 AM
May 28, 2013, 8:09 AM
As expected, Fidelity National Financial (FNF) announces the purchase of Lender Processing Services (LPS) in a 50% cash, 50% stock deal valued at about $2.9B. At Friday's closing prices, this values LPS at $33.25/share. Fidelity expects the purchase to be 11.3% accretive to this year's earnings. FNF +2.7%, LPS +2.4% to $33.79 premarket (PR)| May 28, 2013, 8:09 AM
May 22, 2013, 7:13 PM
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.| May 22, 2013, 7:13 PM | 3 Comments