Fidelity National Financial Gets FTC Approval To Buy Lender Processing Services

(RTTNews) - Fidelity National Financial Inc. (FNF), Tuesday said Federal Trade Commission has approved its acquisition of Lender Processing Services Inc. (LPS).

As part of the approval, FNF has entered into an Agreement Containing Consent Orders to divest an interest in or a copy of overlapping title plants in six Oregon counties within a period of five months.

In May, title insurer FNF agreed buy mortgage servicing provider Lender Processing Services in a cash and stock deal valued at about $2.9 billion. The company now expects to close the deal on January 2, 2014.

"We are very excited to receive FTC approval for the LPS acquisition," said FNF Chairman William Foley. "This approval was the last milestone to achieve our scheduled January 2, 2014 closing date and we look forward to welcoming the LPS businesses to the FNF family."