Boston, MA 05/24/2013 (wallstreetpr) – The share prices of Lender Processing Services Inc. (NYSE:LPS) had increased by 12.95 percent to close at $32.95 per share for the end of last trading session. The shares traded in the range of $31.16 to $33.40 per share during the day and further the 52 week high price of Lender Processing Services Inc. (NYSE:LPS) got adjusted to the new level of $33.40 per share during the last trading session. The shares of the company, which is a services provider to the mortgaging companies, witnessed heavy trading volume at 11.54 million shares, while the average trading volume for the company is only 896,428 shares per day.
Buy out deal
The mortgaging services provider, Lender Processing Services Inc. (NYSE:LPS) is being watched out by Fidelity National Financial Inc. and the private equity firm Thomas. H. Lee Partners for an acquisition deal. The deal is expected to be announced early this week. According to the terms discussed, the buyout deal may be completed partially by cash and partially by stock from the Fidelity National Financial Inc. Lender Processing Services Inc. (NYSE:LPS) is presently being valued at $33 per share of the company.
Once the buyout deal is completed, Lender Processing Services Inc. (NYSE:LPS) would be functioning as a subsidiary of Fidelity National Financial, its one time parent company. The mortgaging services provider presently has 84.90 million shares outstanding in the market and has a market capitalization of $2.79 billion. Lender Processing Services Inc. (NYSE:LPS) holds an institutional ownership of 92 percent of the capital.
