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Fidelity National Financial (FNF) announced Tuesday that it acquired Lender Processing Services (LPS), confirming rumors that the two had been making plans to make a deal worth $2.9 billion.
May 28 -
Fidelity National Financial dominates mortgage underwriting. Its former LPS unit is the top mortgage servicer. The question is whether two companies that have run out of room to grow separately can prosper together.
May 23
Title insurance company Fidelity National Financial has closed on its purchase of Lender Processing Services, a provider of mortgage and consumer loan processing services and technology, FNF said in a press release Thursday evening. Total compensation for LPS is $37.14 per share, consisting of $28.10 in cash and $9.04 in FNF common stock.
The purchase creates a
The two companies, whose corporate headquarters share a Jacksonville, Fla., address,
On Dec. 24, the Federal Trade Commission approved the deal with the caveat that six title plants in Oregon be sold.