BUYOUT OF LENDER PROCESSING - LAW FIRM SEEKS HIGHER PRICE AND MORE INFORMATION FOR SHAREHOLDERS
May 28, 2013
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights firm, announces that it is investigating the acquisition of Lender Processing Services, Inc. Fidelity National Financial, Inc. (FNF), and Lender Processing Services, Inc. (LPS), announced the signing of a definitive agreement under which FNF will acquire all of the outstanding common stock of LPS for $33.25 per common share, for a total equity value of approximately $2.9 billion.
Under the terms of the definitive agreement, FNF will pay 50% of the consideration for the LPS shares of common stock in cash and 50% in shares of FNF common stock, subject to adjustment. Under the definitive agreement, FNF's shares of common stock have been valued at $25.489 per share (the "Reference Price"), representing a fixed exchange ratio of 0.65224 shares of FNF common stock for each share of LPS common stock. Based on the Reference Price, FNF expects to issue approximately 57.4 million shares of FNF common stock to LPS common stockholders, representing approximately 20.151% of FNF's pro-forma, fully diluted outstanding shares.
The investigation concerns whether the board of directors obtained the maximum value for shareholders in selling the company. Indeed, analysts have projected that the takeover value of the stock is worth at least $36 per share. If you are a shareholder of LPS and would like additional information as to how you can participate with other shareholders seeking a higher price and more information please contact us at 1-877-772-3975 or email at contact @ tripplevy
I'm just an average person. But, if anyone just cuts you loose and then all of a sudden wants you back, there's something wrong. Apparantly, they spun off LPS because they were afraid of the possible consequences of the upcoming "robo-signing issues, and now that it's all settled, they want them back!
Is this someone you trust!
You're right, something is wrong. They have known this was coming. The robo-signing issues have not been settled. LPS got sued two weeks ago in D.C. Superior Court, case no. 000-3715, for trillions of dollars [statutory damages], along with Fannie Mae and both MERS corporations. The lawsuit covers every MERS titled conveyance document recorded nationwide up to July 2011, which the lawsuit says that all were fraudulent. Fidelity Financial is being added to the lawsuit. LPS can fight the litigation and Fidelity can't afford for LPS to roll over on them because Fidelity has been writing title policies on property that does not have clear title. The merger will never happen as long as either one of them are facing this lawsuit.