On May 28, 2013, Fidelity National Financial, Inc. (“FNF”), a leading provider of title insurance, mortgage services and diversified services, and Lender Processing Services, Inc. (“LPS”), a leading provider of integrated technology, services, data and analytics to the mortgage and real estate industries, announced the signing of a definitive agreement under which FNF will acquire all of the 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. Cravath represented LPS in connection with this transaction.
The Cravath team included partners Robert I. Townsend III and Damien R. Zoubek and associates Keith Hallam and Maya A. Rosenthal‑Larrea on M&A matters; partner Eric W. Hilfers, practice area attorney M.C. Tania Balthazaar and associate Amy C. Benford on executive compensation and benefits matters; partner Michael L. Schler and associate Andrew Carlon on tax matters; and partner Peter T. Barbur and associate Yaw A. Anim on antitrust matters. Summer associate David P. Friedman also worked on M&A matters.
