Fidelity National Financial (FNF) received Federal Trade Commission (FTC) approval of its previously announced acquisition of Lender Processing Services (LPS).
As part of the approval, FNF has entered into an agreement containing consent orders to divest an interest in or a copy of overlapping title plants in six Oregon counties within a period of five months. There were no other divestiture stipulations in the FTC approval of the transaction. FNF expects to close the acquisition of LPS on Jan. 2.
The FTC said in a statement Dec. 24 that the acquisition would likely substantially lessen competition by combining the firms’ title plant assets in several local markets in Oregon. Both Fidelity and LPS compete for title insurance customers in the Oregon counties of concern.