Lender Processing Services Inc. (LPS) has announced that the company will have received Federal Trade Commission (FTC) approval of its previously announced acquisition by Fidelity National Financial Inc. (FNF) upon the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 at 11:59 p.m., Eastern time, on Dec. 24, 2013.
As part of the approval, LPS and FNF entered into an Agreement Containing Consent Orders to divest within a period of five months (1) a copy of LPS' title plant assets covering six Oregon counties and (2) FNF's interest in a title plant covering Portland, Oregon. There were no other asset divestitures in the FTC approval of the transaction.
LPS stockholders approved the transaction at a special shareholder meeting on Dec. 19, 2013. Upon the expiration of the waiting period, LPS will have received all necessary approvals to close this transaction, which is scheduled for Jan. 2, 2014.