Lending Processing Services, a provider of technology support to mortgage lenders, is in advanced talks to sell itself to its former parent, Fidelity National Financial, and the buyout firm THL Partners for about $2.9 billion, a person briefed on the matter said Wednesday.
Under the current terms of the proposed transaction, the two firms would pay about $33 a share, this person said. That is about 14 percent higher than L.P.S.รข€™s closing price on Wednesday.
A deal could be announced as soon as next week, this person said, cautioning that discussions are continuing and may fall apart.
If completed, a transaction would bring L.P.S. again under the umbrella of Fidelity National, which spun off the mortgage-services company nearly five years ago. THL would own almost 20 percent in L.P.S.
News of the talks was reported earlier by The Wall Street Journal online.
