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Fidelity National Financial, Thomas H. Lee, in Talks to Acquire Lender Processing Services

Fidelity National Financial, Thomas H. Lee, in Talks to Acquire Lender Processing Services

Title insurer Fidelity National Financial Inc. FNF -4.43% and buyout shop Thomas H. Lee Partners are in advanced talks to acquire Lender Processing Services Inc. LPS -3.16% for about $2.9 billion, according to people familiar with the matter.

The deal would bring Lender Processing Services, which provides services to mortgage lenders, back under the umbrella of Fidelity National Financial, its one-time parent.

Under the terms being discussed, the buyers would pay with a mix of cash and Fidelity National Financial stock, these people said. The deal would value Lender Processing Services shares around $33, some of the people said.

Lender Processing Services shares closed down 3.2%, or about 95 cents, to $29.11 on Wednesday. The stock is up about 21% on the year, with most of the climb coming in the last month. Fidelity National Financial has a market capitalization of about $5.6 billion, while Lender Processing Services is worth about $2.5 billion.

A deal could be announced as soon as early next week, they said.

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