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Dec. 19, 2013 /PRNewswire/ -- Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, services, data and analytics to the mortgage and real estate industries, today announced that its stockholders voted to adopt the previously announced merger agreement providing for the acquisition of LPS by Fidelity National Financial, Inc. (NYSE: FNF) at the Special Meeting of Stockholders held earlier today. More than 98 percent of votes cast at the Special Meeting were in favor of the transaction, representing more than 78 percent of all outstanding shares.
As previously announced on
May 28, 2013, the Board of Directors of LPS approved a definitive agreement under which FNF will acquire LPS for
$28.102 in cash and a certain number of shares of FNF equal to the exchange ratio (as described in the definitive proxy statement relating to the merger) per share. The transaction, which is expected to close at or around the end of 2013, remains subject to the satisfaction of the closing conditions set forth in the merger agreement, including regulatory approvals.
Lender Processing Services (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk. These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. LPS also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.