JACKSONVILLE, Fla.,
Dec. 24, 2013 /PRNewswire/ --
Fidelity National Financial, Inc. (NYSE: FNF), a leading provider
of title insurance and transaction services to the real estate and
mortgage industries, today announced that it has received Federal
Trade Commission ("FTC") approval of its previously announced
acquisition of Lender Processing Services, Inc. (NYSE: 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. There were no other divestiture stipulations in the
FTC approval of the transaction. FNF expects to close the
acquisition of LPS on January 2,
2014.
"We are very excited to receive FTC approval for the LPS
acquisition," said FNF Chairman William P.
Foley, II. "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."
About FNF
Fidelity National Financial, Inc.
(NYSE:FNF), is a leading provider of title insurance, mortgage
services and diversified services. FNF is the nation's
largest title insurance company through its title insurance
underwriters - Fidelity National Title, Chicago Title, Commonwealth
Land Title and Alamo Title - that collectively issue more title
insurance policies than any other title company in the United
States. FNF also owns a 55% stake in American Blue Ribbon
Holdings, LLC, a restaurant owner and operator of the O'Charley's,
Ninety Nine Restaurant, Max & Erma's, Village Inn, Bakers
Square and Stoney River Legendary Steaks concepts. In
addition, FNF also owns a 51% stake in Remy International, Inc., a
leading designer, manufacturer, remanufacturer, marketer and
distributor of aftermarket and original equipment electrical
components for automobiles, light trucks, heavy-duty trucks and
other vehicles. FNF also owns a minority interest in Ceridian
Corporation, a leading provider of global human capital management
and payment solutions. More information about FNF can be
found at www.fnf.com.
Forward-Looking Statements
This press release contains
forward-looking statements that involve a number of risks and
uncertainties. Statements that are not historical facts, including
statements regarding our expectations, hopes, intentions or
strategies regarding the future are forward-looking statements.
Forward-looking statements are based on management's beliefs, as
well as assumptions made by, and information currently available
to, management. Because such statements are based on expectations
as to future financial and operating results and are not statements
of fact, actual results may differ materially from those projected.
We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. The risks and uncertainties which
forward-looking statements are subject to include, but are not
limited to: changes in general economic, business and political
conditions, including changes in the financial markets; weakness or
adverse changes in the level of real estate activity, which may be
caused by, among other things, high or increasing interest rates, a
limited supply of mortgage funding or a weak U. S. economy; our
potential inability to find suitable acquisition candidates,
acquisitions in lines of business that will not necessarily be
limited to our traditional areas of focus, or difficulties in
integrating acquisitions; our dependence on distributions from our
title insurance underwriters as a main source of cash flow;
significant competition that our operating subsidiaries face;
compliance with extensive government regulation of our operating
subsidiaries; and other risks detailed in the "Statement Regarding
Forward-Looking Information," "Risk Factors" and other sections of
the Company's Form 10-K and other filings with the Securities and
Exchange Commission.
SOURCE Fidelity National Financial, Inc.