Fidelity National Buys Back LPS in $2.9 Billion Deal

LPS

Fidelity National to Buy LPS in $2.9 Billion Deal

Fidelity National Financial Inc. (FNF), the largest U.S. title insurer, agreed to acquire its former unit, Lender Processing Services Inc. (LPS), to expand in the business of providing and analyzing mortgage data.

The cash-and-stock deal values LPS at $33.25 per common share, or about $2.9 billion, Jacksonville, Florida-based Fidelity National said today in a statement. LPS, also based in Jacksonville, closed at $29.11 on May 22, before it was first reported that Fidelity National was in talks to acquire the firm.

Fidelity National is expanding in housing-linked businesses amid a recovery in the U.S. real estate market. LPS has technology that’s used by lenders throughout the mortgage process, from origination to foreclosure.

“This combination will create a larger, broader, more diversified and recurring revenue base for FNF and makes us the nation’s leading title insurance, mortgage technology and mortgage services provider,” Fidelity National Chairman William Foley said in the statement.

Rest here…

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3 Responses to “Fidelity National Buys Back LPS in $2.9 Billion Deal”
  1. marilyn lane says:

    Found an interesting read on Habitat International Coalition
    Habitat International Coalition
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    RIGHTS BUT REITs: Opposing the global introduction and consequences of Real Estate Investment Trust (REITs)

    found an interesting read on Haabitat International Coalition

  2. marilyn lane says:

    They don’t come more corrupt than William P fOLEY
    In 2008 I wrote him a simple letter “what went wrong that your New York attorney Thomas P Malone finds himself fighting for a forged deed?
    Fidelity’s answer to me for Wm Foley is ‘IT IS PROPER’

    It is Fidelitys attorneys that ficalitated all the fraudulent transfers including many produced by that wonderful company DOCX into the County Clerks offices.

  3. BOBBI SWANN says:

    Oh good. Now we have one fraudulent producer being purchased by another! Greed feeding on greed…and who suffers at the hands of such greed? Certainly not the 1% as they don’t pay much in taxes anyway when these companies need a bailout. And take a look at who’s providing the financing and who’s the brokering agents….they all conspire together!

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