There are multiple reasons why they're buying back their own stock right NOW! First off, (very strgegically) management knocked the price down by announcing layoffs and no raises. Then, just a week later, all of a sudden ;-), they miraculously come up with $250 million to buy back their own stock! Why? Because they just accomplished their goal when every dollar counts when you're buying 7 million shares). Secondly, it's been announced that for every 2 shares of FIS that one owns, they will receive an ADDITIONAL 1 share of LPS the day it goes public (i.e. IPO). That gives them 3.5 million shares the morning LPS opens on the market. I don't know about you, but I want in on that IPO too!
I did find this statement in the document - "For every share of FIS common stock that you owned at the close of business on , 2008, the record date, you will receive one-half share of our common stock on the distribution date."
The document is here - http://www.sec.gov/Archives/edgar/data/1429775/000095013408005425/a39279orexv99w1.htm
okay - why anyone would pay for SEC docs is beyond me (waiting for investor relations to post their limited docs isn't DD).
Go to www.sec.gov - it should be pretty clear at that point (select "search for company findings")... do a search for "lender processing" - there's only one company... and one filing. The docs are there - they aren't final (as in offer price and date, but they do note the LPS share pickup - as related to your FIS holdings).
If you keep looking at the FIS filings you'll never find this one.
If you're a serious investor, do your own DD and spend some money on a reputable financial advisor instead of asking people you don't even know, "what's going on", or "is that true"! Don't be gullable or you're going to lose all your money! Try Edgar for example, and good luck to you.
I do my DD but you were the one that made a statement you could not back up with the facts. I am long term holder of FIS and you can bet this board is not for research. Good luck to you.
"Secondly, it's been announced that for every 2 shares of FIS that one owns, they will receive an ADDITIONAL 1 share of LPS the day it goes public (i.e. IPO)."
I hope you are right. Where did you get this info? I have been watching and missed that one.