Fidelity Offers $2.9B for Lender's Tech

MIAMI—Fidelity National Financial laid down about $2.9 billion to acquire Lender Processor Services, Inc., a provider of integrated technology, services, data, and analytics to the mortgage and real estate industries. The price for all outstanding common stock is $33.25 per share.

Under the terms of the deal, Fidelity will pay 50% of the consideration for the Lender shares in cash and 50% in shares of Fidelity stock. The purchase price represents a 19% and 25% premium, respectively, to the prior 30-day and 60-day average closing prices for Lender’s stock through May 22. May 22 was the last trading day before media reports regarding a potential transaction started circulating.