THE DEAL: Fidelity National Financial Inc. is buying Lender Processing Services Inc. for about $2.82 billion. Fidelity National will pay $33.25 per share. Fidelity National will pay 50 percent of the transaction in cash and 50 percent in stock.
GO SHOP: The deal allows Lender Processing to actively seek out third-party alternative bids until July 7. Fidelity National would receive a breakup fee under various circumstances. Both companies are based in Jacksonville, Fla.
THE CLOSING: The transaction is expected to close in the fourth quarter. It still needs approval from both companies' shareholders.