Insurer, Buyout Firm in Talks to Buy Lender Processing
Title insurer Fidelity National Financial and buyout firm Thomas H. Lee Partners are in advanced talks to acquire mortgage service provider Lender Processing Services, a source familiar with the matter said.
The deal, worth about $2.9 billion, would value Lender Processing shares at around $33 per share, The Wall Street Journal reported earlier on Wednesday, citing people familiar with the matter.
The buyers would pay with a mix of cash and Fidelity National Financial stock, the newspaper said, adding that Lee would hold a 19.9 percent stake in Lender Processing.
The deal could be announced as soon as early next week, the source told Reuters.
Fidelity National and Lender Processing Services were not immediately available for comment. Lee declined to comment.
If the deal is completed, Lender Processing Services would become a subsidiary of Fidelity National Financial, the Journal said.
_ By Reuters