Fidelity National Financial adjusts terms of LPS acquisition

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 · Fidelity National and THL Partners Said to Be in Talks for Loan Processing Firm. Lender Processing Services, a provider of technology support to mortgage lenders, is in advanced talks to sell itself to its former parent, fidelity national financial, and the buyout firm thl partners for about $2.9 billion, a person briefed on the matter said Wednesday.

Case Summary. Fidelity National Financial, Inc. agreed to settle charges that its proposed $2.9 billion acquisition of Lender Processing Services, Inc. (LPS) would likely substantially lessen competition by combining the firms’ title plant assets in several local markets in Oregon. To preserve competition, the proposed settlement requires Fidelity.

 · A determination that the merger consideration is reliable evidence of fair value depends on the quality of the sale process. Specifically, the Company’s CEO had consulted for and managed Fidelity from 2002-2006; an outside LPS director served as an officer of one of THL’s portfolio companies; and LPS’ Chairman served as CEO.

The results for the second quarter of 2014 include $16.9 million of transition and integration costs as well as $8.0 million in certain legal charges related to the acquisition of Lender Processing.

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About FNF Fidelity National Financial, Inc. FNF, +1.15% is a leading provider of title insurance, mortgage services and diversified services. FNF is the nation’s largest title insurance company.

For example, it recently announced that it has entered into an agreement to purchase Lender Processing Services. rating to Fidelity National Financial. We think First American’s earnings will fall.

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Fidelity National financial (nyse: fnf): Current price $. making for an aggregate equity value of around $2.9 billion. Through the terms, FNF will pay 50 percent of the consideration for the LPS.

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Press Release Lender Processing Services, Inc. Announces an Adjustment to the Consideration Mix in Its Acquisition by Fidelity National Financial, Inc.

JACKSONVILLE, Fla., June 19, 2013 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance, mortgage services and.

 · Factors that could result in an upgrade of Fidelity National’s ratings include: maintaining profit margins in the high single digits (8%) or better through the title insurance cycle; earnings coverage above 6x, and holding company cash flow coverage of interest above 4x; a long term commitment to moderate financial leverage (adjusted debt-to-capital below 35%, unadjusted debt-to-capital below.