Fidelity National Financial to Buy Lender Processing Services for Approx. $2.9 Bln

Fidelity National Financial (FNF), a provider of title insurance and mortgage services, said on Tuesday that it has agreed to buy Lender Processing Services (LPS) for $33.25 per common share. The total equity value of the transaction is approximately $2.9 billion. FNF said it would pay half in cash and half in stock, subject to adjustment. Also, FNF will combine its ServiceLink business with LPS into a new holding company and is selling 19% to Thomas H. Lee Partners for about $381 million in cash. Jacksonville, Fla.-based LPS is a provider of technology, data and analytics to the mortgage and real estate industries.

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